NorthMarq Capital

Real Estate Weekly, May 14, 2008

NorthMarq Capital arranged over $29 million in commercial financings for developers on a variety of properties in Upstate New York:

* Sam Berns, senior vice president, arranged $14.9 million for two multifamily properties located in Upstate New York. Hilton Village Apartments in Hilton, New York, consists of 234 units and White Oaks Apartments located in Penfield, New York, consists of 72 units. Both properties were financed on a 10-year term with an aspect of interest only followed by a 30-year amortization schedule. NorthMarq placed the loans for the borrower through AmeriSphere Multifamily Finance.

* Sam Berns closed loan in the amount of $2.7 million for a PriceRite Grocery Store in Rochester, New York, through NorthMarq's relationship with a national real estate commercial credit company. The non-recourse loan is for 10 years with a 25-year amortization schedule and exceeded 80% loan to value. The 10-year fixed rate locked in the low 7% range.

* Michael James, vice president of NorthMarq Capital, placed two construction loans totaling $8.2 million for retail pharmacies in Upstate New York. He also placed a $1.5 million loan on the Manlius Medical Building in suburban Syracuse, New York, through NorthMarq's correspondent relationship with Columbian Mutual Life Insurance Company.

* Scott DeVinney, VP of NorthMarq Capital, arranged a $2.1 million loan for a medical office building leased to St. Peter's Hospital in Albany, New York, with a correspondent regional bank.