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NorthMarq Capital Completes $3M Refinance Of Lowell Office Building

May 2, 2014 | Reprints | Print

Gateway NorthMarq Capital’s Boston-based regional office has secured $3.125 million to refinance the Gateway Center Office Building in Lowell.

Gateway Center Office Building is a 29,684-square-foot property located at 10 George St.

The transaction was structured with a 7-year fixed term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a local bank. People’s United Bank is the major tenant of the building.

"The class-A asset was 100 percent leased, well maintained and in a great location that provides easy access to all points of interest within the Boston MSA, as well as Maine and New Hampshire," Ed Riekstins, senior vice president of NorthMarq Capital’s Boston based regional office, said in a statement. "The quality commercial asset was essential to the success of the deal with a local bank."

Commercial