Polizzo and DesRochers of NorthMarq arrange $12.2 million first mortgage

Deanna Polizzo, VP and Ernest DesRochers, senior VP and managing director of NorthMarq Capital's New York City office, arranged a first mortgage refinance in the amount of $12.2 million for Summerhill Marketplace, an 88,700 s/f grocery-anchored retail property located at 657 Rte. 18 South. Stop and Shop is the major tenant at the center. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, CV Summerhill, LLC, by NorthMarq through its relationship with Royal Bank of Scotland. Polizzo said, "The subject property is located in a strong retail market, provides excellent visibility and has been well maintained making it one of the leading shopping centers in the area."