Northmarq’s Debt + Equity team arranges $2.26M acquisition financing for Pennsylvania multifamily properties
Northmarq’s Philadelphia Debt + Equity team, led by Kris Wood and John Banas, along with David Singer and Jeff Steigerwalt, has arranged $2.26 million in acquisition financing for two low-rise multifamily buildings totaling 23 units in Bridgeport and King of Prussia, Pennsylvania, on behalf of our client.
The portfolio includes Parkside Apartments, an 11-unit building constructed in 1970, and Kingsbridge Apartments, a 12-unit building constructed in 1962. Parkside offers a mix of studio and two-bedroom units, while Kingsbridge offers one- and two-bedroom layouts. Each building sits within a two-minute drive of the DeKalb Street SEPTA station on the Norristown High Speed Line, giving residents a direct rail connection into Norristown and beyond.
Bridgeport and King of Prussia sit side by side along the Schuylkill River in Montgomery County, one of Pennsylvania's most populous and affluent counties. King of Prussia is among the region's largest suburban employment centers, home to a deep base of corporate, life sciences and healthcare employers. Bridgeport, just across the river from Norristown, adds a compact, small-borough setting minutes from all of it. For renters who want access without paying for newer luxury product, well-located, attainable properties like Parkside and Kingsbridge offer a compelling alternative, which is why the submarket continues to see steady demand.
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Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
