Northmarq’s Boston office delivers $2.2 million in acquisition financing for retail property in East Peoria, Illinois
BOSTON, MASSACHUSETTS (June 29, 2022) – Ed Riekstins, senior vice president/managing director and Daniel Karp, vice president of Northmarq’s Boston debt/equity office, collaborated to arrange acquisition financing of $2.2 million for 200-220 West Washington Street. The 9,500 sq. ft. unanchored strip retail property (built in 2015) is located in East Peoria. Tenants include Aspen Dental and H&R Block. Northmarq was able to negotiate the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“We are delighted we were able to place a second acquisition loan with the same lender and borrower on another quality acquisition,” said Riekstins.
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