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