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