{"id":1004670032,"date":"2023-06-29T08:08:07","date_gmt":"2023-06-29T16:08:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004670032"},"modified":"2023-06-29T08:08:08","modified_gmt":"2023-06-29T16:08:08","slug":"northpath-secures-18m-refi-for-2-office-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/","title":{"rendered":"Northpath Secures $18M Refi for 2 Office Buildings"},"content":{"rendered":"
\"2<\/a>

2 & 4 Westchester Park Drive. Image courtesy of JLL<\/em><\/p><\/div>\n

Northpath Investments<\/strong> has secured a $17.5 million refinancing loan for 2 and 4 Westchester Park Drive, two office buildings in White Plains, N.Y. JLL<\/strong> arranged the five-year, fixed-rate note through Centreville Bank<\/strong>.<\/p>\n

Totaling 218,372 square feet, the assets are currently 86.5 percent leased and have a mix of both of traditional office<\/a> and medical office tenants.<\/p>\n

Northpath acquired the two buildings from Heritage Realty Services in a $20 million portfolio transaction in 2021, according to CommercialEdge data. Prime Finance Partners provided a $9.4 million acquisition loan, the same source shows.<\/p>\n

The two five-story buildings underwent a cosmetic renovation<\/a> in 2008. They feature 9,000 square feet of retail space, a fitness center, a conference center, a cafeteria, passenger elevators, on-site day care, bicycle parking, controlled access and approximately 682 parking spaces.<\/p>\n

Located in the Westchester Avenue corridor, the properties provide easy access to interstates 287 and 87. The 2 and 4 Westchester Park Drive office buildings are situated in an area with newly built multifamily communities, several retail centers, dining options and entertainment venues.<\/p>\n

Senior Managing Director Michael Klein, Director Max Custer and Analyst Benjamin Morgenthal led the JLL Capital Markets Debt Advisory team, working on behalf of the borrower.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL arranged the loan through Centreville Bank.<\/p>\n","protected":false},"author":3014,"featured_media":1004670035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21754,1600,21742,10,21747],"tags":[32796,34062,51720],"class_list":["post-1004670032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-medical-office","category-new-york","category-latest","category-northeast","category-office","tag-jll","tag-michael-klein","tag-northpath"],"acf":[],"yoast_head":"\nNorthpath Secures $18M Refi for 2 Office Buildings - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Northpath Investments secured a $17.5 million refinancing loan for 2 and 4 Westchester Park Drive, two office buildings in White Plains, N.Y.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Northpath Secures $18M Refi for 2 Office Buildings\" \/>\n<meta property=\"og:description\" content=\"Northpath Investments secured a $17.5 million refinancing loan for 2 and 4 Westchester Park Drive, two office buildings in White Plains, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-29T16:08:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-29T16:08:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2-4-westchester-park-drive_email-e1687958920650.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"834\" \/>\n\t<meta property=\"og:image:height\" content=\"625\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/\",\"name\":\"Northpath Secures $18M Refi for 2 Office Buildings - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2-4-westchester-park-drive_email-e1687958920650.jpg\",\"datePublished\":\"2023-06-29T16:08:07+00:00\",\"dateModified\":\"2023-06-29T16:08:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Northpath Investments secured a $17.5 million refinancing loan for 2 and 4 Westchester Park Drive, two office buildings in White Plains, N.Y.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northpath-secures-18m-refi-for-2-office-buildings\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2-4-westchester-park-drive_email-e1687958920650.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2-4-westchester-park-drive_email-e1687958920650.jpg\",\"width\":834,\"height\":625,\"caption\":\"2 & 4 Westchester Park Drive. 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