NorthMarq arranges $622,000 refinancing of single-tenant office property in Little Ferry, New Jersey
WHITE PLAINS, NEW YORK (October 1, 2021) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office, secured the $622,000 refinancing of a 3,200 sq. ft. single tenant office property located at 281 Liberty Street in Little Ferry, New Jersey. Constructed by the owner in the early 1970's, the property is a 2-story newly renovated office building which will be leased to the owner's parent company for their property management and development operations.
The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq negotiated the permanent-fixed loan for the borrower through its relationship with a regional bank.
“The borrower is an existing bank customer doing a total renovation of his office building and bank was glad to continue the growing relationship with them,” said Ranieri.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
