October 21, 2015

NorthMarq Capital’s DesRochers arranges $3.35 million construction to permanent financing of Walgreen’s Old Bridge in Old Bridge, New Jersey

Walgreen’s Old Bridge

Debt & Equity

Multi-Tenant

NEW YORK CITY (October 21, 2015) – Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office arranged construction to permanent financing of $3.35 million for Walgreen’s Old Bridge, a 13,588 sq.ft. retail property located at 2603-2727 Highway 516 in Old Bridge, New Jersey. NorthMarq arranged financing for the borrower through its relationship with a national bank. “The credit facility is actually secured by a leasehold interest in the land,” noted DesRochers. “The lender took the time to thoroughly understand the ground lease.”

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.