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NEW YORK and PENNSYLVANIA — Minneapolis-based Northmarq Capital has arranged the mortgages for the following properties:
- Rapid Park, a 600-space parking garage located at 204-205 W. 101st St. in New York City, received $8.5 million in first mortgage financing. The loan is based on a 10-year term with a 30-year amortization schedule and was arranged through Northmarq’s relationship with Lincoln Financial Group. Northmarq’s Charles Cotsalas and Ernest DesRochers arranged the financing.
- Stop & Shop, a 55,000-square-foot retail facility at 8019 Jericho Turnpike in Woodbury, N.Y., received $6 million in first mortgage financing based on a 10-year term and a 30-year amortization schedule. Cotsalas and DesRochers arranged the financing through Northmarq’s relationship with Allstate Life Insurance Co.
- A historic, 30,000-square-foot mixed-use building located at 100 and 136 Glen St. in Glen Falls, N.Y., has received $2.34 million in first mortgage financing based on a 5-year term and 20-year amortization schedule. Northmarq’s Scott DeVinney arranged the financing through Northmarq’s relationship with First Niagra.
- Lantern Hill, a 21,000-square-foot bank/office pad in Doylestown, Pa., has received $1.6 million in first mortgage financing based on a 15-year term and a 25-year amortization schedule. Northmarq’s David Henrich arranged the financing through Northmarq’s relationship with Columbian Mutual Life Insurance Co.