NorthMarq Capital arranges construction/permanent financing for Pittsburgh office building
Rivertech Office Works
ROCHESTER (August 4, 2014) – Scott DeVinney, vice president of NorthMarq Capital’s Rochester based regional office arranged a $1.850 million 10-year fixed rate construction to permanent loan for Rivertech Office Works, a 12,000 sq.ft. office building located at 3700 S. Water Street, Pittsburgh, Pennsylvania. The transaction was structured with 10-year term and 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a regional bank. “The building will house the University of Pittsburgh’s neuro-muscular lab,” said DeVinney. “The financing that was provided allowed the borrower to lock in today’s current low interest rates for the next 10 years.”
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.