Northmarq’s Debt + Equity team arranges $2.2M refinancing for Philadelphia multifamily community

3408 Race Street
Philadelphia Multifamily Community

Northmarq’s Philadelphia Debt + Equity team led by John Banas and Kris Wood secured $2.2 million in permanent financing for 3408 Race Street in Philadelphia, PA, on behalf of their client.

The customized financing supports the revitalization of an existing multifamily property with six newly renovated units nestled in the vibrant and historic Powelton Village neighborhood.

Blending classic Philadelphia charm with modern updates, the property is within walking distance of Drexel University, the University of Pennsylvania, cultural landmarks and major transit. Its prime location in a lively, tree-lined neighborhood makes city living both convenient and engaging.

“Frank, Sean and Guy are a pleasure to work with. Always looking forward to our next closing,” said Banas.

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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.
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