Northmarq’s Debt + Equity team secures $1.2M refinancing for low-rise apartments in New Rochelle, NY
31 Locust Avenue & 5 Clinton Place
Northmarq’s White Plains Debt + Equity team led by Robert Ranieri successfully arranged the $1.2 million refinancing of an 18-unit multifamily community located at 31 Locust Avenue & 5 Clinton Place in New Rochelle, New York.
Northmarq arranged permanent-fixed financing on behalf of their borrower, through the firm’s relationship with Chase Bank. The transaction was structured on a five-year term.
“This was a new client for Northmarq and one of three deals we are doing to pay off a maturing loan with another local bank,” said Ranieri. “Our new lender’s program was more competitive than the refinance option offered by the existing lender.”
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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.
