BOSTON (May 12, 2016) – Doug Nickerson, vice president of NorthMarq Capital’s Boston regional office, arranged the $6 million refinance of Eastgate Apartments, a 144-unit multifamily property located at 125 Eastgate Way in Boston, Massachusetts. The transaction was structured with a fully amortizing 30-year term. NorthMarq arranged financing for the borrower through its relationship with a local bank.
“The bank was able to secure a loan with a 30-year term, 15-years fixed-rate at 4.25 percent,” said Nickerson. “The borrower’s experience, coupled with the local banks flexibility, made this a successful transaction. We look forward to doing business with both the borrower and lender in the future.”