NorthMarq Capital's Boston office arranged $14.25 million mortgage for industrial portfolio in Edison, NJ
Edison Industrial Portfolio
BOSTON (July 18, 2013) – James M. Murphy, managing director of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $14.25 million for an industrial portfolio in Edison, New Jersey. The properties are located at 300 Columbus Circle and 400 Raritan Center and contain a total of 204,440 sq. ft. of industrial space. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through its relationship with a correspondent life company lender. “This transaction was a full-leveraged financing with a flexible prepayment structure and allowable partial releases,” Murphy said. “We were pleased to continue our relationship with both the lender and borrower in the funding of this loan.”
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.
