Northmarq arranges $18.5 million Fannie Mae refinancing for multifamily property in Henrietta, NY
WHITE PLAINS, N.Y. (May 13, 2024) — Robert Ranieri, senior vice president/managing director of Northmarq’s Greater White Plains regional office arranged financing of Westbrooke Commons in Henrietta, NY (suburb of Rochester). The 340-unit, garden-style apartment complex was constructed in 1964 and is located within 10 miles of both the Frederick Douglass Greater Rochester International Airport and Rochester Institute of Technology. Northmarq arranged the permanent fixed loan for the borrower through its in-house Fannie Mae team.
“Northmarq’s Fannie Mae team was able to step up and provide an attractive deal with full-term interest only, while waiving all escrows for this long-time Northmarq client,” said Ranieri.
The property features a mix of studio, one-, two- and three-bedroom units across 45 residential buildings on approximately 22 acres. 224 of the property’s units are townhouse-style units. Amenities include a swimming pool, fitness center, playground, video library and laundry facilities.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
