NORTHMARQ ARRANGES $18.6M LOAN FOR CVS PLAZA IN CHAPEL HILL

CHAPEL HILL, N.C. — NorthMarq Capital has secured $18.6 million in acquisition financing for CVS Plaza, a 100,634-square-foot mixed-use property in Chapel Hill. The property, located adjacent to the University of North Carolina at Chapel Hill campus, includes a new ground-floor CVS/pharmacy, restaurants, retail, more than 60,000 square feet of office space and a parking structure. Todd Crouse of NorthMarq’s Raleigh, N.C., office arranged the five-year loan through a life insurance company. The loan features two years of interest-only payments and a 30-year amortization schedule.