Multifamily - Debt

NorthMarq Capital completes final pieces of $54.3 Million in financing Of Fenway Area Apartments in Boston, Massachusetts

BOSTON (June 1, 2015) – Michael J. Chase, vice president of NorthMarq Capital’s Boston regional office arranged the $29.3 million refinance of the Symphony & Hemenway Apartments, three multifamily properties containing a total of 116 units. The commercial mortgage financing represented the final pieces of a total of $54.3 million in financing for a five-building portfolio of apartments in the Fenway Neighborhood of Boston. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

“The closings of the Symphony & Hemenway Apartments combined with the recent closings of the Westland Avenue Apartments completed the refinance of over 217 units,” said Chase. “Quality location, assets and sponsorship all lead to a completive long-term fixed rate financing while also providing the sponsors with prepayment flexibility going forward.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.