Northmarq’s Debt + Equity team arranges $1.35M refinancing for Philadelphia multifamily community
Northmarq’s Philadelphia Debt + Equity team led by John Banas and Kris Wood, along with David Singer and Jeff Steigerwalt — has arranged $1.35 million in permanent financing for 1221-23 N Franklin St. in Philadelphia, on behalf of their client.
The transaction supports the refinance of a 10-unit walk-up multifamily building, fully renovated in 2025 and located in the Ludlow neighborhood of Philadelphia.
Ludlow is an evolving section of the city, blending historic rowhome charm with a growing wave of modern residential development. The neighborhood benefits from strong connectivity to Center City and University City via the Market-Frankford Line, along with convenient access to Fishtown and Northern Liberties. A surrounding mix of parks, dining and retail options makes Ludlow a walkable, amenity-rich place to call home.
"Always a pleasure working with Chris Parker and his team, especially on opportunities that come full circle — from our team originally arranging the acquisition and development financing to now the stabilized permanent financing," said John Banas.
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Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
