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.
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