Northmarq’s Boston office closes $15.2 million refinance for Maine retail and industrial portfolio

Retail & Industrial Portfolio
Debt & Equity
Shopping Center
Multi-Tenant
Permanent Loan - Fixed
Bank
e27ca911-d961-48d0-9684-7648fa5dead5.jpg

BOSTON, MASSACHUSETTS (August 10, 2022) - Ed Riekstins, managing director and Daniel Karp, vice president of Northmarq’s Boston debt/equity team, finalized the $15.2 million permanent-fixed loan for a Maine retail and industrial portfolio. The portfolio totals five retail properties and one industrial property which are located in Bangor, Scarborough and South Portland, Maine. 

The transaction was structured with a 10-year term on a 25-year amortization schedule with a fixed-rate in the low-3’s. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a local bank. 

“This was a very strong loan based on the diversification of collateral. The bank lender was terrific to work with holding the application rate in a rising rate environment,” said Riekstins. 

 

View Available Shopping Center Listings

Meet our team

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.
Transactions

Related Transactions

Explore all transactions
NM Web Icon News Black

Stay on top of industry research

Subscribe