NorthMarq Capital’s Westchester office arranges $3.5 million in refinancing for Regency Business Center
Regency Business Center
WHITE PLAINS (September 21, 2018) -- NorthMarq Capital’s Westchester regional office arranged a $3,525,000 loan to refinance Regency Business Center, a 48,110-sq.-ft. office building in Jacksonville, Florida. The transaction, for which Citigroup is the lender, was structured as a five-year loan with a 25-year amortization schedule.
Robert Raineri, senior vice president – managing director, arranged the financing on behalf of the borrower.
“This loan facilitates the pay-off of a high-rate bridge loan the borrower utilized to buy out his partner last year,” said Raineri. “We were able to cover all closing costs, put funds into escrow, and provide excess proceeds to the borrower.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
