May 12, 2016

NorthMarq Capital’s Boston office negotiates $4.1 million for affordable housing in Port Orange, Florida

The Club at Sugar Mill

Debt & Equity

Multi-Tenant

BOSTON (May 12, 2016) – Doug Nickerson, vice president, and Ryan Demadis, vice president of NorthMarq Capital’s Boston regional office, finalized the $4.1 million internal refinance for The Club at Sugar Mill, a 168-unit multifamily property located at 3600-3635 Carmel Avenue in Port Orange, Florida. The transaction was structured with a fully amortizing 30-year term. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “This was a refinance of an existing Fannie Mae affordable (LIHTC) loan,” noted Nickerson. “Our client took advantage of the low rate environment and secured a 30-year term, 30-year amortization, fixed-rate loan,” added Demadis.

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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.