NorthMarq Capital's Boston office arranged $4.25 million mortgage for Franklin Village North Apartments in Franklin, IN

Franklin Village North Apts
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BOSTON (July 1, 2013) – Doug Nickerson, vice president of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $4.25 million for Franklin Village North Apartments, a 180-unit, market-rate multifamily property located at 57 Schoolhouse Road in Franklin, Indiana. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “This was a refinance of a loan that had been part of a pool of loans purchased by the prior lender in 2011,” Nickerson said. “The lender offered my client a substantial discount to the stated yield maintenance penalty allowing my client the ability to refinance the existing debt reducing their interest rate significantly and adding six years of term onto the prior loan’s balloon date.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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