Northmarq lends $19.1 million through Freddie Mac's Optigo platform for a 154-unit community in Dover, PA
Photo credit is Boyd Wilson Property Management
DOVER, Pa. — Northmarq’s Philadelphia Debt + Equity team, led by John Banas and Kris Wood, along with David Singer and Jeff Steigerwalt, has lent $19.1 million in financing for Dover Run Apartments located at 2670 Springhouse Bend in Dover, Pennsylvania.
Northmarq arranged the deal on behalf of the borrower, Boyd Wilson. The financing was secured through Freddie Mac's Optigo® platform. The transaction was structured on a five-year term with a 35-year amortization schedule.
"In a challenging lending environment, our team and the team at Boyd Wilson were on top of our game to secure great long-term financing," Banas said.
Built in 2019, Dover Run is a 154-unit, 13-building garden-style community with a mix of one- and two-bedroom units. Each has modern finishes, an in-unit washer and dryer, and a private balcony or patio.
Community amenities include a clubhouse, fitness center, dog park, and walking trail. The property has easy access to Route 30 and Interstate 83, connecting residents to employment in York, Harrisburg, and Lancaster.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
