NorthMarq Capital arranged $1.075 million mortgage for 216-220 Pearl Street in Springfield, MA
216-220 Pearl Street
BOSTON (June 17, 2013) – Michael Chase, assistant vice president of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $1.075 million for 216-220 Pearl Street in Springfield, Massachusetts. The property contains 26 market-rate multifamily units. Financing was based on a 7-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “This transaction is the refinance of a fractured condominium,” Chase said. “The original loan was not scheduled to mature until 2014, but NorthMarq was able to work with the lender and borrower so that the borrower could take advantage of the current low rate environment.”
Meet our team
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.
