NorthMarq Capital’s Atlanta office arranges $3.75 million refinance of Staples Oak Ridge City Center in Oak Ridge, Tennessee

Staples Oak Ridge City Center
Debt & Equity
Shopping Center
Multi-Tenant
Bridge Loan
Bank
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ATLANTA (November 16, 2016) – Will James, vice president of NorthMarq Capital’s Atlanta-based regional office, completed the $3.75 million refinance of Staples Oak Ridge City Center, a 38,900 sq. ft. retail property located in Oak Ridge, Tennessee. The transition was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. The property’s major tenants include: Staples, GNC and Verizon. “The bridge financing occurred for three reasons—the property’s CMBS loan was coming due; an upcoming Staples renewal was pending; and once the new redevelopment is completed behind the center in two years, the sponsorship will consider another refinance or sale of the asset,” explained James. 

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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.
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