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Northmarq Boston Secures $17M Acquisition Financing for Jupiter, FL Fresh Market
Northmarq’s Boston office has completed acquisition financing of $16.8 million for the Fresh Market Village retail center in Jupiter, FL. The 55,046-square-foot grocery-anchored retail property was built in 1989 and last renovated in 2014.
Northmarq’s Daniel Karp structured the transaction with a 10-year term with three years of interest only followed by a 30-year amortization schedule. The permanent-fixed loan was secured for the borrower through Northmarq’s correspondent relationship with a life insurance company.
“The borrower chose this lender for their ability to offer a 30-year amortization along with 3-years of interest only at a higher leverage point than competitors,” said Karp.
- ◦Financing
