NorthMarq Capital finalizes $16 million refinance of Wallington Plaza in Wallington, New Jersey
Wallington Plaza
GREATER WESTCHESTER NY/CT (July 13, 2015) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office arranged the $16 million refinance of Wallington Plaza, a 92,823 square foot retail property located at 375 Paterson Avenue in Wallington, New Jersey. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged ground-lease financing for the borrower through its relationship with a regional bank. Shoprite Supermarket represents the property’s major tenant. “The bank delivered an excellent quote based on a 25 year ground lease to a newly opened Shoprite,” said Ranieri.
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
