NorthMarq Capital’s Westchester office arranges $3.5 million in refinancing for Regency Business Center
WHITE PLAINS (September 21, 2018) -- NorthMarq Capital’s Westchester regional office arranged a $3,525,000 loan to refinance Regency Business Center, a 48,110-sq.-ft. office building in Jacksonville, Florida. The transaction, for which Citigroup is the lender, was structured as a five-year loan with a 25-year amortization schedule.
Robert Raineri, senior vice president – managing director, arranged the financing on behalf of the borrower.
“This loan facilitates the pay-off of a high-rate bridge loan the borrower utilized to buy out his partner last year,” said Raineri. “We were able to cover all closing costs, put funds into escrow, and provide excess proceeds to the borrower.”
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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.
