Retail - Debt

NorthMarq Capital arranges financing for properties in Tennessee and North Carolina for a combined $13.8 million

RALEIGH (April 20, 2015) – Todd Crouse, senior vice president/managing director of NorthMarq Capital’s Raleigh based regional office arranged financing for a retail property located in Kingsport, Tennessee and a mixed-use property in Durham, North Carolina.

Crown Point Shopping Center: This 88,892 sq.ft. retail property, located on Eastman Road in Kingsport, Tennessee received acquisition financing of $10.3 million. The transaction was structured with a 20-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

City Place: This 30,588 sq.ft. mixed-use property, located in Durham, North Carolina received acquisition/external refinancing of $3.5 million. The transaction was structured with a 5-year interest only term followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank.

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.