NorthMarq Capital arranges $20.77 million refinance of Whole Foods

Ernest DesRochers, senior vice president/managing director of NorthMarq Capital's New York metro based office finalized the $20.771 million refinance of a 50,000 s/f Whole Foods located at 150-152 Ledge Rd. The transaction was structured as a 24-year term fully amortizing loan with a low debt service coverage ratio requirement. NorthMarq arranged financing for the borrower through its correspondent relationship with a CTL lender. "The property is located in one of the strongest demographic areas in the United States and exhibits strong property economics; however, it is encumbered with a long-term ground lease," said DesRochers.