NorthMarq Capital’s Gary Cohen finalizes $30 million refinance of DeMattheis Multifamily Portfolio located throughout New Jersey

DeMattheis Multifamily Portfolio

MORRISTOWN (April 17, 2018) – Gary Cohen, senior vice president/managing director of NorthMarq’s New Jersey regional office, arranged the $30 million refinance of the DeMattheis Multifamily Portfolio, which contains a combined 307 units on eight properties. The transaction was structured with a 15-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The properties are located at:

- Morris Elm Apartments located at 34-36 Elm Street, Morristown, New Jersey

- Morris Hill Apartments located at 34 Hill Street, Morristown, New Jersey

- Elmwood Gardens located at 30 Elm Street, Morristown, New Jersey

- Franklin Hill Apartments located at 44 Hill Street, Morristown, New Jersey

- Highland Manor Apartments located at 330-338 Crowells Road, Highland Park, New Jersey

- Park Ridge Manor Apartments located at 304 South Second Avenue, Highland Park, New Jersey

- Bridgeton Apartments located at 101-130 Martin Terrace, Woodbridge, New Jersey

- Hillside Apartments located at 307-311 Division Street (AKA 100 Hillside Avenue) Edison, New Jersey

“The borrower is a full service real estate investment company whose business activities encompass the acquisition, development, redevelopment and management of strategically located neighborhood/community shopping centers and apartment complexes in around New Jersey,” said Cohen. “NorthMarq was able to help the borrower secure long term financing with a national life company at an attractive rate. Ownership was able to pay off their debt service and recoup equity which will be reinvested into all eight 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:

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