DesRochers of NorthMarq Capital secures $11 million refinance

Fairfield, CT Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro-based regional office, secured the $11 million refinance of Turnpike Shopping Center, a 110,000 s/f retail property located at 1955-2009 Black Rock Tpke.  The transaction was structured with a 10-year term with 5-year interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Shop Rite Supermarket, Eastern Mountain Sports and Party City represent the property’s major tenants.