June 11, 2015

NorthMarq Capital negotiates $11.5 million value-add financing for SONO Corporate Center in Norwalk, Connecticut

SONO Corporate Center

Debt & Equity

Multi-Tenant

NEW YORK CITY (June 11, 2015) – Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro based regional office secured value-add financing of $11.5 million for SONO Corporate Center, a 150,000 sq.ft. office property located at 50 Washington Street in Norwalk, Connecticut. The transaction was structured with a 5-year term with 2-years interest only followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. “The credit facility that was arranged by NorthMarq on behalf of the borrower will be used to reposition the asset,” noted DesRochers. “Planned work includes extensive common area and tenant improvements. The loan included both a permanent loan piece and a revolving line of credit.”

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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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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