Northmarq negotiates $12.55 million refinance of five-property retail portfolio in Edwardsville, Glen Carbon, and Highland, Illinois

Retail Portfolio
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ST. LOUIS, MISSOURI (August 1, 2022) – Northmarq’s St. Louis debt/equity team arranged the $12.55 million refinance of five retail properties located in the St. Louis Metropolitan Area. The loan was arranged on behalf of the owner, R.L.P. Development Company, Inc.

“The Northmarq team has been good partners and easy to work with,” according to Jason Plummer, vice-president of R.L.P. Development Company, Inc.  The properties, built between 1998 and 2019, total approximately 110,000 sq. ft. and boast high occupancy. The properties are in strong locations and leased to a solid, diverse tenant mix.

The transaction was structured as a 20-year fully amortized loan. Northmarq secured a permanent fixed-rate loan for the borrower through its correspondent relationship with a Life Insurance Company.  “We were pleased with this transaction, it was a smooth process and we were able to close the transaction as we started to see the interest rate market move,” added Plummer.

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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.
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