June 12, 2013

NorthMarq Capital arranged $630,000 mortgage for ground lease to Valley Cottage Industrial in Valley Cottage, New York

Valley Cottage Industrial Ground Lease

Debt & Equity

Multi-Tenant

PARSIPPANY (June 12, 2013) – Gary Cohen, senior vice president and senior director of NorthMarq’s North New Jersey regional office, arranged a first mortgage loan in the amount of $630,000 for the refinance of a 10,000 sq. ft. ground lease to Valley Cottage Industrial located at 201 route 303 in Valley Cottage, New York. Financing was based on a 3-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a local bank. “The borrower had no debt on the property but had to raise cash in a hurry and refinanced the property,” Cohen said. “We introduced the deal to a local bank that required a personal guaranty from the principal. They were able to provide a competitive rate and very flexible prepayment terms.”

Available Industrial properties

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.