February 17, 2014

NorthMarq Capital arranges $17 million refinancing of Church Square South, located in Hoboken, New Jersey

Church Square South

Debt & Equity

Multi-Tenant

PARSIPPANY (Feb. 17, 2014) – Gary Cohen, senior vice president/senior director of NorthMarq Capital’s New Jersey office arranged refinancing totaling $17 million for Church Square South, which consists of two affordable housing properties with a combined total of 81-units. Financing was based on a 12-year term and 30-year amortization schedule and was arranged by NorthMarq through its relationship with a local bank. “The buildings operate under a long term Housing Assistance Payment Contract and are managed as one property,” said Cohen. “The lender provided a rate lock in the early fall and the loan was closed at the end of January due to the yield maintenance prepayment penalty.”

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.