REIT SECURES $11.4M ACQUISITION LOAN FOR ORION RETAIL CONDO

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NEW YORK CITY — NorthMarq Capital has arranged an $11.4 million loan for the acquisition of Orion, a 42,774-square-foot retail condominium in New York City. The condo is part of a newly constructed 58-story residential high-rise on West 42nd St., just west of Times Square. Icon Parking Garage, Well Green Market and Starbucks are the major tenants at the site. Gregory Nalbandian of NorthMarq negotiated the 5-year, interest-only financing through a regional bank. The borrower is a REIT.

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