Northmarq completes $26M refinance of Sunrise Promenade in Massapequa Park, NY

Sunrise Promenade
Debt & Equity
Multi-Tenant
Debt
Life Company
Multi-Tenant
Strip mall

MASSAPEQUA PARK, N.Y. (Nov. 14, 2024) — Managing Director Ernest DesRochers and Senior Director Charles Cotsalas of Northmarq’s New York Debt + Equity team secured the $26 million refinance of Sunrise Promenade Shopping Center. The 165,922-sq.-ft. grocery-anchored retail shopping center sits in the Massapequa Park section of Long Island, New York.

The property was completely repositioned by the borrower over the past few years including the addition of its anchors, Whole Foods and Hobby Lobby. Northmarq was able to complete a 10-year life company execution for the sponsors because of both the quality of the tenancy and the ownership.

Located at 5278 Sunrise Hwy in Long Island, Sunrise Promenade features strong, national retailers. The multi-tenant retail center is well-positioned along New York State Route 27, also known as Sunrise Highway.

 

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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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