July 15, 2013

NorthMarq Capital's New York City office $5.6 million mortgage for Walgreens in Unionville, Connecticut

Walgreens

Debt & Equity

Multi-Tenant

NEW YORK (July 15, 2013) – Ernest DesRochers, senior vice president and managing director of NorthMarq’s New York City Metro office, arranged a construction and permanent loan of $5.6 million for the construction of a 13,000 sq. ft. free-standing retail property located in Unionville, Connecticut. The property is fully leased to Walgreens. Financing was based on up to a two year construction period and permanent loan of up to 10 years. Amortization is based on a 30-year schedule after conversion to a permanent loan. The loan was arranged by NorthMarq through its relationship with a regional bank. “This construction loan is for a long-time client of NorthMarq’s,” DesRochers said. “The property is located in an established in-fill commercial area with excellent surrounding demographics. The site represents a new store for the tenant and one of several that has been developed for the tenant by the Borrower.”

Available Retail (MT) 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.