NorthMarq Capital’s Miami office arranges acquisition financing of $8.12 million for multistate restaurant portfolio
Restaurant Portfolio
MIAMI (January 6, 2016) – Robert Bhat, vice president of NorthMarq Capital’s Miami based regional office arranged acquisition financing of a single tenant restaurant portfolio from GE Capital. The $8.12 million loan commitment is secured to several properties including two Bakers Crust (IL), a T.G.I. Friday’s (VA), a Saint Louis Bread (MO) and a Shoney’s (TX). Orion Venture XII North LLC, a subsidiary of Orion Investment and Management, a full service international commercial real estate firm that manages a portfolio in excess of $400 million, was the borrower. The transaction was structured with a 3-year interest-only term. “This portfolio contains well located properties with strong restaurant tenants and lengthy lease terms. Even though the properties were scattered across half of the country, I was able to find a bank that provided a nonrecourse loan with a three year interest-only term, and a floating rate below four percent,” said Bhat.
About Northmarq
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.
