NORTHMARQ SECURES $25M LOAN FOR LONG ISLAND RETAIL CENTER
MASSAPEQUA, N.Y. — NorthMarq Capital’s New York City office has arranged $25 million in permanent mortgage financing for Sunrise Promenade Associates. The loan is secured by Sunrise Promenade Shopping Center, a 165,939-square-foot retail property in Massapequa, a city located on the South Shore of Long Island. Ernest DesRochers, senior vice president and managing director, and Charles Cotsalas, senior director at NorthMarq, arranged the loan through Lincoln National Life Insurance. The 10-year loan includes a 25-year amortization schedule. The Sports Authority, Babies “R” Us, Barnes & Noble and Pier 1 Imports anchor the property.