NorthMarq’s New Jersey office negotiates $45.5 million refinance of Camelot at La Mer V in Sayreville, New Jersey

Camelot at La Mer V
Debt & Equity
Multi-Tenant
Multifamily
Debt
Life Company
09f7161a-2808-473e-b289-9baa38eb367a.jpg

MORRISTOWN, NEW JERSEY (October 21, 2020) – Camelot at La Mer V has obtained a $45.5 million loan arranged through the New Jersey office of NorthMarq. Gary Cohen, managing director and Marc Nevins, vice president oversaw the transaction. The property is a 273-unit apartment community located in Sayreville, New Jersey and is part of Overlook at La Mer, a master planned community developed by Kaplan Companies.    

The fixed rate financing was structured on a fully amortizing, 35-year term through one of NorthMarq's correspondent life insurance companies. Earlier this year, NorthMarq arranged a $15.5 million, 35-year self-amortizing loan for another Kaplan property with a national life insurance company. That property consists of 117 units and is located in Perth Amboy, New Jersey.    

“The Kaplan Companies are a best in class developer of premier apartment communities and requested me to arrange long term, self-amortizing loans,” said Cohen. “We received multiple competitive quotes and I am pleased to have assisted in this outstanding execution."

View Available Multifamily Listings

Meet our team

About Northmarq 
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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
NM Web Icon News Black

Stay on top of industry research

Subscribe