January 8, 2013

NorthMarq Capital arranged $6.1 million mortgage for Birch Brook Manor in Ossining, New York

Birch Brook Manor

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 $6.1 million for Birch Brook Manor, a 79-unit market-rate multifamily property located at 81-89 South Highland Avenue in Ossining, New York. Financing was based on a 7-year term plus a 3-year extension option and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, Birch Brook Manor, Inc., through its relationship with a local bank. “The loan was done with a local bank that was able to offer a flexible prepayment option along with a 3-year extension option,” said Ranieri.

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.