Northmarq’s Baltimore office completes $51.5 million refinance of Deep Run Mobile Home Park in Elkridge, Maryland
BALTIMORE, MARYLAND (February 21, 2022) – Nancy Ferrell, vice president/regional managing director and Tim Greisman, senior vice president, arranged the $51.5 million refinance of Deep Run Mobile Home Park. The 621-unit manufactured housing community (originally built in 1982) is located at 6551 Old Waterloo Road in Elkridge, Maryland. The transaction was structured on a long-term, fixed rate mortgage including 11-years of interest only followed by a 30-year amortization schedule. Northmarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
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.
