Multifamily - Debt

Northmarq’s San Diego office arranges $3.95 million refinance for Fort Pike Commons in Sackets Harbor, New York

SAN DIEGO, CALIFORNIA (October 6, 2022) – Wyatt Campbell, vice president, and Conor Freeman, vice president of Northmarq’s San Diego office, arranged the $3.95 million refinance of Fort Pike Commons, a 120-unit multifamily community in Sackets Harbor, New York. The loan was structured with full-term interest-only payments. Northmarq secured financing through its in-house Fannie Mae platform and utilized the Streamline Rate Lock (SRL) feature.

“Through Fannie Mae’s SRL option, our team locked rate within 72 hours of application,” said Campbell. “The SRL feature was key for the Borrower, it helped them mitigate recent market volatility and secure a rate in the mid-4.0%.”

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.