NorthMarq inks mortgage loans

Real Estate Weekly, Oct 19, 2005

Edward Tamer, Vice President in the Albany Regional office of NorthMarq Capital, Inc. arranged second mortgage financing of $6 million for Southbury Plaza, located in Southbury, Connecticut.

The 259,568 square-foot retail property is home to major tenants, Stop & Shop, K-Mart and Sears. Financing was based on an 8-year term with a 20-year amortization schedule and was arranged for the borrower, Southhaven Associates, LLC, by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada.

NorthMarq also arranged first mortgage financing of $3.9 million for 2 Empire Drive, located in East Greenbush, New York. The 39,950 square-foot office is home to major tenant, Seton Health Systems.

Financing was based on a 10-year term with a 25-year amortization schedule and was arranged for the borrower, Mannix Road Associates II, LLC, by NorthMarq through its relationship with Berkshire Life.