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NorthMarq Capital Completes $3.9M Refinance Of Roxbury Office Building

May 6, 2015 | Reprints | Unlock Link | Print

NorthMarq Capital’s Boston-based regional office arranged a $3.9 million refinance of a 42,200-square-foot office building in Roxbury.

NorthMarq Vice President Matt Marshall arranged the financing for the property at 114-124 Gerard St. The redevelopment is a partnership between Urban Core Development & DDJB Real Estate Holdings.

The transaction was structured with a nine-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional credit union.

“It was great working with this repeat client to facilitate the financing on a newly renovated brick and a beam office building in New Market Square,” Marshall said in a statement. “The sponsors are bringing to the neighborhood the kind of quality you’d see in a downtown Boston structure and set a new bar going forward. The lender realized the strength of sponsorship and structured creative, flexible loan to meet the client’s needs.”

Banking & Lending