Northmarq secures $7.9M in financing for Rochester Metro industrial property

Rochester Metro Industrial Property
103,565-sq.-ft. industrial facility

ONTARIO, N.Y. — Senior Vice President Michael Wyne of Northmarq’s Debt + Equity team, along with Michael Marsolais, arranged $7.9 million in refinancing for a two-building industrial facility in Ontario, New York, within the Rochester metropolitan area.

Totaling 103,565 square feet, the multi-tenant manufacturing property includes two buildings situated on 6.65 acres. Northmarq secured the financing on behalf of the borrower through a relationship with a credit union lender.

The transaction was structured with a 10-year term. The interest rate is fixed 6.25% with no prepayment penalty.

“This was the best available combination of rate and proceeds for the client,” Wyne said. “The structure provides long-term stability while taking advantage of prepayment flexibility.”
 

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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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