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