LANGHORNE, PA-NorthMarq has put together a $30 million refinancing for a portfolio of High Street Equity's office and industrial properties in Bucks County.
The portfolio consists of 11 properties with a total of 607,889 square feet, located here and in Trevose.
The new five-year financing has a 25-year amortization schedule with a flexible prepayment schedule, possible partial releases and no escrows or structuring.
NorthMarq arranged through its relationship with a correspondent life insurance company lender, AVIVA.
Boston-based NorthMarq's James Murphy said his firm has orchestrated over $88 million in closings with this borrower and lender over the last six months, three of them for industrial portfolios in New Jersey:
- $14.25 million refinancing for a portfolio in Edison
- $27.7 million refinancing for one in Allendale, and
- $7.45 million for one in Somerset
Also, NorthMarq arranged a $9 million first mortgage refinancing for High Street's northern Cincinnati portfolio in Sharonville and Hamilton, OH.
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