Retail - Debt

NorthMarq Capital

NorthMarq Capital arranges two retail transactions totaling $18.8 million

ST. LOUIS (November 5, 2014) – Jeffrey Chaney, senior vice president/managing director of NorthMarq Capital’s St. Louis based regional office has secured refinancing for two properties totaling a combined $18.8 million. Schnucks Market represents the major tenant of each property.

Wood Mill Plaza: This 85,523 sq.ft. retail property, located at 1060 Schnucks Woods Mills Plaza in Town and Country, Missouri, was refinanced at $8.5 million. The transaction, which closed in 60-days, was structured with a 20-year term and 25-year amortization. NorthMarq arranged financing for the borrower, through its correspondent relationship with a life insurance company.

“The lender provided the borrower with a low fixed-rate for 20-years on this quality grocery anchored shopping center in Town and Country,” said Chaney.

Loughborough Commons: This 100,382 sq.ft. retail property, located at 952 Loughborough Avenue in St. Louis, Missouri, was refinanced at $10.3 million. The transaction was structured with a 15-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The terms of the transaction featured a unique amount of prepayment flexibility for a permanent loan.

“The lender provided the borrower with a highly negotiated portfolio loan to meet the borrower’s short and long-term objectives,” noted Chaney.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.