NorthMarq Capital arranged $5 million mortgage for The Beebe Building in Boston, Massachusetts
The Beebe Building
BOSTON (August 12, 2013) – Joseph Hegenbart, senior vice president/managing director of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $5 million for The Beebe Building located at 129 South Street in Boston, Massachusetts. The property is a 41,165 sq. ft. multi-tenant office building with ground floor retail. Les Zygomates Restaurant is a major tenant at the site. Financing was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “Concerned about an uptick in treasury rates, the borrower was provided the flexibility of a forward commitment and early rate lock execution for the long-term debt,” Hegenbart said.
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.
