14C — March 24 - April 13, 2017 — The Best of 2016 — M id A tlantic

Real Estate Journal


The Best financial deals of 2016

NorthMarq Capital Columbia Corporate Park Loan $72 Million

Progress Capital Advisors Gull’s Cove Condominium Loan $68.5 Million

Greysteel Horizon Square Loan $35 Million

When construction of Phase II of the Gull’s Cove Condominium Complex was ready to begin, the developer reached out to Kathy Anderson to arrange the financing. “We were finding that the Basel III HVCRE rules and the tighten- ing of construction credit espe- cially for condominiums, required

Size: 495,000 s/f

Joseph Burke, senior managing director of NorthMarq Capital’s Baltimore-based regional office, arranged a $72 million refinance for a 495,000 SF office property located at 8825, 8830, 8840 & 8850 Stanford Boulevard, 8890 McGaw Road in Columbia, Maryland. The transaction was

Financier: Mark Bittenbender The 94% occupied Horizon Square Apartments is a 254-unit elevator-serviced mid-rise multifamily property. Developed in 1969, residents enjoy numer- ous property amenities including an Olympic-sized swimming pool, a sundeck, a picnic area, a 24-hour fitness center, a playground, bike storage, and laun- dry facilities on every floor. The prime location of the multifamily property, at 3563 Fort Meade Road, of- fers residents easy access to both Washington, D.C. and Baltimore via the MARC train line, the Balti- more-Washington Parkway, and Interstate-95.

us to explore a bridge loan option which was better suited for the developer’s capital needs,” expressed Kathy Anderson. The combination of limited inven- tory along the Gold Coast combined with low inter- est rates has created the perfect environment to absorb these units quickly. With over $40 Billion in closed loans and over $100 Million of direct lending, we will get you to the closing table…. plain and simple. Kathy Anderson

Joseph Burke

structured with a 12-year term with four years in- terest only followed by 30-year amortization sched- ule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life in- surance company.

201 MARIN WAY GULLS COVE II JERSEY CITY, NJ 9 story tower 107 condominiums


$68,500,000 construccon loan 24 month term

Gulls Cove


The Funding Source



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