NorthMarq Capital arranges $9 million refinancing for Audubon Court Apartments in Audubon, Pennsylvania
Audubon Apts
PHILADELPHIA (November 11, 2013) – Joseph J. Sweeney, managing director of NorthMarq’s Philadelphia regional office, arranged refinancing of $9 million for the Audubon Court Apartments in Audubon, Pennsylvania. The 174-unit conventional market rate asset was structured with a 10-year term and a 30-year amortization schedule. NorthMarq arranged the financing for the borrower through its seller-servicer relationship with Freddie Mac. “Freddie Mac was extremely aggressive and won the business,” said Sweeney.
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.
