NorthMarq Capital finalizes $15.4 million refinance of Walgreens Upstate New York Portfolio

WESTCHESTER (June 9, 2016) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut based regional office, arranged the $15.4 million refinance of three Walgreens stores in upstate New York. The stores, totaling 43,860 sq. ft. of retail space, are located in Brighton, Camillus and Cortland, New York. The transaction was structured with a 10-year term with 2-years interest only followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrowers through its correspondent relationship with a life insurance company. “This was a refinancing of a maturing CMBS portfolio of three Walgreens stores in upstate New York,” said Ranieri. “NorthMarq was able to find a life insurance company who not only offered a 25-year amortization but also offered 2-years of interest only.”

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:

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