NorthMarq Capital arranges $10 million refinance of X-Cell Realty office property in New Hyde Park, New York
X-Cell Realty
NEW YORK CITY (April 19, 2016) – Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office, and Charles Cotsalas, senior director of NorthMarq Capital’s Long Island office, collaborated to arrange the $10 million refinance of X-Cell Realty, a 166,931 sq. ft. office property located at 3333 New Hyde Park Road in New Hyde Park, New York. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. “The lender structured the loan to allow for very flexible prepayment terms for the borrower during the last half of the loan term,” explained DesRochers.
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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.
