NorthMarq Capital arranges two retail transactions totaling $18.8 million
ST. LOUIS (November 5, 2014) – 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."
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."
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
