NorthMarq Capital Arranges $32 Million Mortgage

Scarsdale, N.Y. — Midway Shopping Center is anchored by ShopRite.

Scarsdale, N.Y. — NorthMarq Capital has secured $32 million in first-mortgage refinancing for the 246,981-square-foot Midway Shopping Center in Scarsdale. The center is anchored by a 69,592-square-foot ShopRite. Other tenants include CVS/pharmacy, The Dress Barn, Jo-Ann Fabrics & Crafts, Planet Fitness, Red Lobster and Starbucks. Financing was based on a 15-year term with two five-year options to extend and a 25-year amortization schedule. Doug Austin of NorthMarq’s San Diego office arranged the loan on behalf of the borrower through its relationship with a correspondent life company lender.

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