NorthMarq Capital arranges $10 million refinance of X-Cell Realty office property in New Hyde Park, New York

X-Cell Realty
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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.

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. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.