Northmarq’s Debt + Equity team arranges $5M refinance for New Jersey multifamily community
Northmarq’s Philadelphia Debt + Equity team, led by John Banas and Kris Wood, along with David Singer and Jeff Steigerwalt, has arranged a $5 million refinance for a 42-unit affordable multifamily community in Hopewell, New Jersey, on behalf of Woodland Development Group LLC.
Built in 2025, the property is part of Hopewell Parc, a master-planned community in Hopewell Township, Mercer County. The one-, two-, and three-bedroom units serve moderate-income households as part of an affordability commitment regulated by the State of New Jersey.
Hopewell Township pairs rural charm with strong connectivity. Route 31 and I-295 put Trenton, Princeton and the Route 1 corridor within easy reach, making it a consistent draw for renters and homeowners alike.
"It was a pleasure working with the Woodland Development Team on an opportunity that serves the community. This was our first transaction together and was another great referral from an existing client," said John Banas.
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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 $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.
