NORTHMARQ CAPITAL ARRANGES TWO LOANS TOTALING $24 MILLION
BOUND BROOK, N.J., AND LATHAM, N.Y. — NorthMarq Capital has arranged a total of $24 million in financing for two properties in New Jersey and New York. In Bound Brook, NorthMarq secured an $18 million loan for a 105,000-square-foot neighborhood retail center. The loan carries a 10-year term with a 30-year amortization schedule. The borrower was a Somerset County-based developer.
In Latham, NorthMarq arranged $6 million in first-mortgage financing for the Sunmark Federal Credit Union Building, a 43,753-square-foot office building located in Latham. The financing includes a 10-year term with a 22-year amortization schedule. The lender was State Farm Realty Mortgage.