NorthMarq Capital completes final pieces of $54.3 Million in financing Of Fenway Area Apartments in Boston, Massachusetts
Fenway Area Apts
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.”
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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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
