Northmarq’s Boston office delivers $2.2 million in acquisition financing for retail property in East Peoria, Illinois
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.
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.
