NorthMarq Capital arranged $7.27 million to finance two office buildings in Saratoga Springs, New York
7 Wells/260 Broadway
ROCHESTER (March 18, 2013) – Scott DeVinney, vice president of NorthMarq’s Rochester regional office, arranged first mortgage refinancing of $2.62 million for 7 Wells Street and $4.65 million for 260 Broadway. The office buildings, totaling 49,682 sq. ft., are located in downtown Saratoga Springs, New York. Financing was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a regional bank.
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. For more information, visit www.northmarq.com.
