Northmarq’s Debt + Equity team secure $2.5M acquisition financing for mid-rise apartment community
164 Essex Street
Northmarq’s Boston Debt + Equity team led by Jeffrey Munoz and Michael Chase arranged the $2.5 million acquisition financing for a mid-rise apartment community.
Located at 164 Essex Street in Melrose, Massachusetts, the property will offer 80 units upon completion.
Northmarq secured bridge financing on behalf of their borrower, Szecon Development, through the firm’s relationship with a debt fund. The transaction was structured on a one-year term.
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About Northmarq
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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
