Retail - Debt

NorthMarq’s White Plains office negotiates acquisition financing of $900,000 for retail property in East Rutherford, New Jersey

WHITE PLAINS, NEW YORK (February 4, 2020) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-regional office arranged acquisition financing of $900,000 for 189 & 193 Park Avenue, a 3,644 sq. ft. retail property located in East Rutherford, New Jersey. The United States Postal Service represents the property’s major tenant. 

“The bank was able to provide 75 percent financing on this freestanding post office. It has been a post office for more than 50 years.”  

– Robert Ranieri

Financing Details:
– 5-year term
– 25-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Columbia Bank.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.