NorthMarq Capital arranges construction financing of $15.6 million for Harding Green, in Worcester, Massachusetts
BOSTON (July 11, 2018) – NorthMarq Capital arranged $15.6 million in construction financing for a mixed-use development in the Canal District of Worcester, Massachusetts. The project, called Harding Green, will include 48 market-rate apartment units, a restaurant and about 16,000 square feet of space for a public market. Construction commenced in late May with completion anticipated for early summer 2019.
The NorthMarq team was led by Doug Nickerson, vice president and Katie Pontes, vice president, who together arranged the financing with a regional bank. “We were pleased to be involved with this important and beneficial project for Worcester’s Canal District,” said Nickerson. “Support from the City and State in the form of RE tax abatements and HDIP credits helped to support the projects feasibility. Our client’s investment in the neighborhood will be a significant contribution to the revitalization of this historic area of Worcester.”
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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
