October 16, 2013

NorthMarq Capital's Boston office arranges two transactions totaling $9.52 million

The Shoppes at River Chase & Airport Road

Debt & Equity

Multi-Tenant

BOSTON (October 16, 2013) – Ed Riekstins, senior vice president of NorthMarq’s Boston regional office, secured financing for two transactions, totaling $9.52 million. The Shoppes at River Chase, a 43,164 sq. ft. retail center, located at 3538 E Race Ave, Searcy, Ark. was refinanced at $4.62 million. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national CMBS lender. Riekstins also arranged acquisition financing of $4.9 million for Airport Road, a multi-tenant industrial building located at 995-1195 Airport Road, Lakewood NJ. Financing was based on a 10-year term and a 25-year amortization schedule. Financing for the borrower was arranged by NorthMarq through its relationship with a correspondent life company. “Strong sponsorship coupled with our lender relationships were critical to the success of the deals,” said Riekstins.

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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.

Transactions