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 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.
