Northmarq Capital Secures $22M To Refinance 75K Sq Ft Shopping Center
Northmarq Capital successfully secures a $22M loan for a Staten Island shopping center by using Placer's retail sales data to demonstrate the strength of the tenants, including a grocery anchor with high sales and visit rankings.
75.7k
total sq ft of shopping center
$26.7M
in annual sales
>80th
Average percentile ranking for anchor tenants
The Challenge
A client of Northmarq Capital needed help finding a lender to secure $22M and refinance a 75k sq ft shopping center in Staten Island, NY. Lacking sales data from tenants, how could Ernest prove the strength of the investment opportunity to the lender?
The Outcome
Placer’s retail sales and rankings data provided evidence of strong tenants: the grocery anchor tenant generated 26.7M in annual sales, more than 75% higher than its chain average. This data helped their customer secure the $22M loan.
Lenders today want to know what the store sales are, and that’s why Placer’s retail sales data is such a game changer. We can now give a lender accurate sales data, regardless of the tenant’s industry, and prove that a property is a good investment.
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