January 8, 2013

NorthMarq Capital arranged $6 million mortgage for Beech Spring Apartments in Summit, New Jersey

Beech Spring Apts

Debt & Equity

Multi-Tenant

WESTCHESTER, NY (January 8, 2013) – Robert W. Ranieri, senior vice president and managing director of NorthMarq’s Greater Westchester NY/CT Regional office, arranged first mortgage refinancing of $6 million for Beech Spring Apartments, a 53-unit market-rate multifamily property located at 6 Beech Spring Drive in Summit, New Jersey. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Fortune Properties-Summit, LLC and Roselle Apartments-Summit, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.

Available Multifamily properties

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.