Arranged $10 Million Mortgage to Refinance a Four Building Portfolio in Troy, New York
Troy Buildings Portfolio
ROCHESTER (April 15, 2013) – Scott DeVinney, vice president of NorthMarq’s Rochester regional office, arranged first mortgage refinancing of $10 million for a portfolio of four buildings in Troy, New York. This portfolio includes three office buildings containing a combined total of 200,000 sq. ft. and one parking garage containing 985 parking spaces. They are: - The Market Block, 282 River Street - Atrium & Frear Buildings, Third and Fourth Streets - Uncle Sam Parking Garage (USPG), 35 4th Street Financing was based on a 7-year term and a 15-year amortization schedule and was arranged for the borrowers, Bryce Properties, LLC, Hudson River Place, LLC and Uncle Sam Garages, LLC, through NorthMarq’s relationship with a local credit union.
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.
