Arranges $24.2 Million Mortgage for Water Tower Square in Montgomeryville, PA
Water Tower Square
PHILADELPHIA (October 1, 2013) – Philip E. Deeter, Senior Vice President and Managing Director of NorthMarq’s Philadelphia regional office, arranged refinancing of $24.2 million for Water Tower Square, a 262,788 sq. ft. retail center located in Montgomeryville, Pennsylvania. Home Depot, Office Max, and Planet Fitness are major tenants at this property. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged the financing for the borrower through its relationship with a CMBS lender.
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.
