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
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.”
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
