NorthMarq Capital’s Westchester office negotiates $78.8 million refinance of Blair Mill Village East in Horsham, Pennsylvania

GREATER WESTCHESTER NY/CT (January 20, 2017) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office finalized the $78.8 million refinance of Blair Mill Village East, a 768-unit multifamily property located on Blair Mill Road in Horsham, Pennsylvania. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower, Blair Mill Associates, through its seller/servicer relationship with Freddie Mac. Conveniently located off of the Pennsylvania Turnpike and Route 611, the property is listed as 10 minutes to Fort Washington and benefiting from 55 landscaped acres. Apartment amenities include brand new windows, free hot and cold water, laundry center on site, pet friendly policies, online rental payments, patio/balcony, spacious garden-style units, outdoor pool, updated fitness center, tot lot, trash removal, air conditioning, heating and resident parking. “As this was an existing Freddie Mac loan, we were able to waive a portion of the prepayment penalty and provide an 80 percent loan-to-value cash-out option,” explained Ranieri.