Retail - Debt

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

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. 

 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.