NorthMarq Capital arranged $5 million mortgage for The Beebe Building in Boston, Massachusetts
The Beebe Building
BOSTON (August 12, 2013) – Joseph Hegenbart, senior vice president/managing director of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $5 million for The Beebe Building located at 129 South Street in Boston, Massachusetts. The property is a 41,165 sq. ft. multi-tenant office building with ground floor retail. Les Zygomates Restaurant is a major tenant at the site. 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 correspondent life company lender. “Concerned about an uptick in treasury rates, the borrower was provided the flexibility of a forward commitment and early rate lock execution for the long-term debt,” Hegenbart said.
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.
