Northmarq’s Boston office delivers $2.2 million in acquisition financing for retail property in East Peoria, Illinois
Unanchored Strip Retail Property
BOSTON, MASSACHUSETTS (June 29, 2022) – Ed Riekstins, senior vice president/managing director and Daniel Karp, vice president of Northmarq’s Boston debt/equity office, collaborated to arrange acquisition financing of $2.2 million for 200-220 West Washington Street. The 9,500 sq. ft. unanchored strip retail property (built in 2015) is located in East Peoria. Tenants include Aspen Dental and H&R Block. Northmarq was able to negotiate the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“We are delighted we were able to place a second acquisition loan with the same lender and borrower on another quality acquisition,” said Riekstins.
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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.
