Office - Debt

Arranged $10 Million Mortgage to Refinance a Four Building Portfolio in Troy, New York

ROCHESTER (April 15, 2013) – Scott DeVinney, vice president of NorthMarq’s Rochester regional office, arranged first mortgage refinancing of $10 million for a portfolio of four buildings in Troy, New York. This portfolio includes three office buildings containing a combined total of 200,000 sq. ft. and one parking garage containing 985 parking spaces. They are:

– The Market Block, 282 River Street
– Atrium & Frear Buildings, Third and Fourth Streets
– Uncle Sam Parking Garage (USPG), 35 4th Street

Financing was based on a 7-year term and a 15-year amortization schedule and was arranged for the borrowers, Bryce Properties, LLC, Hudson River Place, LLC and Uncle Sam Garages, LLC, through NorthMarq’s relationship with a local credit union.

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.