Retail - Debt

NorthMarq delivers results during crisis: Robert Ranieri arranges $16.5 million refinance of Wallington Plaza in Wallington, New Jersey

WHITE PLAINS, NEW YORK (April 30, 2020) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office secured the $16.5 million refinance of Wallington Plaza. The 94,297 sq. ft. grocery-anchored retail property is located on Paterson Avenue in Wallington, New Jersey. The permanent-floating rate loan was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. 

“We were able to close the loan during the COVID-19 pandemic because the property is anchored by a ShopRite supermarket which is considered an essential business serving the needs of the neighboring communities,” said Ranieri. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.