Mid Atlantic Real Estate Journal — New Jersey — June 8 - 21, 2012 — 11B
www.marejournal.com
N ORTHERN N EW J ERSEY
11,656 s/f of retail space situated on .5 acres NorthMarq Captial arranged $4 million mortgage for CVS
P
ARSIPPANY, NJ — NorthMarq’s New Jer- sey office recently closed
rienced national single-tenant investor, took advantage of its longstanding relationship with CVS and extended the lease during due diligence from 7years to 25 years, with a corporate guarantee on the new lease and also increased CVS’s rent by $90,000. Recognizing this significant value creation, the Bank was willing to lend ag- gressive, non-recourse proceeds at 80% of purchase price and 65% loan to value along with a three-year interest-only period and aggressive fixed prepay- ment structure with the final two years open at par,” said Nalbandian.
NorthMarq, the largest pri- vately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. With an average of $8 billion in annual production volume and servicing a loan portfolio of nearly $40 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Mul- tifamily Finance. ■
a $4 million loan for the acqui- sition of a CVS in Washington, DC. The building contains 11,656 s/f of retail space and is situated on .5 acres. The borrower worked ex- clusively with Greg Nalban- dian, managing director of NorthMarq’s New Jersey office, to finance this loan through a regional bank. The bank pro- vided a 5-year term with three years interest only followed by a 25-year amortization sched- ule. “The borrower, a very expe- The Pinnacle Companies to host Interior Design Seminar ENGLEWOOD, NJ — The Pinnacle Companies, a respect- ed developer of luxury homes throughout the NewYork Met- ro Area, today announced that it will host an interior design seminar on June 10 at The M at Englewood South. The event will be held from 1 to 4 p.m. at the Bergen County commu- nity of elegant condominiums, which opened to rave reviews in March and is already sold out of two floor plans. Stewart and Bloom Design Group, an interior design firm with clients that span the Tri- State Area, will share design ideas with homeowners and buyers, and will use the excep- tional design of The M’s floor plans to demonstrate the best ways to create a functional and aesthetically pleasing home interior. The homes at The M feature top-of-the-line standard fea- tures such as spacious living areas, bedrooms, and modern kitchens with maple cabinetry, under-counter lighting and granite countertops. The M condominiums also feature luxuries, including large laun- dry areas with side-by-side General Electric washers and dryers, large walk-in closets and additional powder rooms in nearly all floor plans. In response to the extraor- dinary value and innovative designs showcased by The M’s model condominiums, sales activity has been running high from a diverse collection of prospective homebuyers since the community’s grand open- ing event. ■
CVS, Washington, DC
Success is a done deal.
$158,000,000 Multifamily Portfolio 2,366 UNITS NJ, NY, PA, & CT LOCATIONS LENDER: FREDDIE MAC
$5,000,000 Medical Office Building ACQUISITION - 31,375 SF MONONA, WI LENDER: LIFE COMPANY
$4,045,000 CVS
$11,940,000 RBS Citizens Bank Portfolio - 16 BRANCHES NY, CT, PA & DE LOCATIONS LENDER: REGIONAL BANK
RETAIL - 11,656 SF WASHINGTON, DC LENDER: REGIONAL BANK
Capital Markets
northmarq.com
New Jersey Office ONE GATEHALL DRIVE, SUITE 101 PARSIPPANY, NJ 07054 973.538.2330
Gary Cohen SENIOR VICE PRESIDENT 973.944.5724 gcohen@northmarq.com
Greg Nalbandian MANAGING DIRECTOR 973.944.5728 gnalbandian@northmarq.com
33 offices coast-to-coast
Made with FlippingBook - professional solution for displaying marketing and sales documents online