Hospitality - Debt

NorthMarq Capital arranged $5 million mortgage for The Beebe Building in Boston, Massachusetts

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.