Jupiter, Fla. — Northmarq has secured $16.8 million in acquisition financing for Fresh Market Village, a 55,046-square-foot, grocery-anchored retail property in Jupiter, about 19 miles from Palm Beach. Daniel Karp of Northmarq arranged the financing, which included a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq secured the permanent, fixed-rate loan on behalf of the undisclosed borrower through its relationship with an unnamed life insurance company. Built in 1989 and last renovated in 2014, the property is anchored by The Fresh Market.
Northmarq Secures $16.8 Million Acquisition Loan for Grocery-Anchored Center in Metro Palm Beach