Mixed Use - Debt

NorthMarq Capital

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 Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.