NorthMarq Capital's Boston office arranges two transactions totaling $9.52 million
The Shoppes at River Chase & Airport Road
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 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.
