Bjornsund of NorthMarq Capital arranges $3 million for borrower, Double E Realty

Craig Bjornsund, senior vice president and managing director of NorthMarq Capital's New York Metro Regional office arranged first mortgage financing in the amount of $3 million for 45 W. 55th St. located between Fifth and Sixth Aves. The asset is a mixed-use property containing 7,835 s/f of retail space on the ground and second floors and 11 residential units on the upper floors. Financing was based on a three-year term and a 25-year amortization schedule and was arranged for the borrower, Double E Realty, LLC by NorthMarq through its correspondent relationship with Sun Life of Canada. Bjornsund said, "Working in conjunction with Estreich & Co., we were delighted to close this loan with the principals of Sierra Realty, a repeat Sun Life borrower. The property benefits from its as well as management. In a second recent transaction, Sam Berns, senior vice president and managing director of NorthMarq Capital's Upstate New York Regional office arranged first mortgage financing in the amount of $20.826 million for Webster Green, a 192-unit multifamily complex located in Webster. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. According to Berns, this transaction represented a six-month forward commitment funded through the Fannie Mae DUS program. NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. The NorthMarq Capital group offers commercial real estate investment banking, investment sales, real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, averaging $10 billion in annual production volume and servicing a loan portfolio of nearly $39 billion. NorthMarq Real Estate Services provides brokerage, property management and healthcare advisory services to investors and space users, and through its Corporation Solutions division, provides mid-size corporate users real estate services nationwide. For more information please visit www.northmarq.com.