NorthMarq Capital’s New Jersey office secures $38 million refinance of Camelot at Cinnaminson in Cinnaminson, New Jersey
NEW JERSEY (October 8, 2018) – Gary Cohen, managing director and Marc Nevins, investment analyst at NorthMarq Capital’s New Jersey regional office, arranged the $38 million refinance of Camelot at Cinnaminson, a 405-unit multifamily property located at 198 Camelot Court in Cinnaminson, New Jersey. The permanent fixed rate loan was structured with a fully amortizing 30-year term. NorthMarq arranged financing for the borrower, Kaplan Companies, through its correspondent relationship with a life insurance company.
“Kaplan Companies is a full service real estate investment and development company active in the residential, commercial and construction business in and around New Jersey," said Cohen. “NorthMarq was hired by Kaplan to arrange long term financing and we were successful in arranging a 30-year self-amortizing loan with a national life company. The interest rate was set in the beginning of May enabling the borrower to lock in favorable terms months before their existing loan was open to prepayment."
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.
