NorthMarq’s White Plains office completes $9.4 million refinance of Hidden Creek Townhomes in Rochester, New York

Hidden Creek Townhomes
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Fannie Mae
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WHITE PLAINS, NEW YORK (September 14, 2020) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office arranged the $9.4 million refinance of Hidden Creek Townhomes and Apartments. The 227-unit multifamily property is located on Charwood Circle in Rochester, New York. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq secured financing for the borrower through its in-house Fannie Mae team.  

Located in a beautiful wooded setting, Hidden Creek offers a mix of spacious one, two and three bedroom garden apartments and townhomes.  Amenities include on-site laundry facilities, a 500 sq. ft. fitness center and garage parking.

“The loan was rate locked and closed during the pandemic,” said Ranieri. “The property had no tenant defaults due to COVID.  Fannie Mae offered a 10 year interest only loan at a very competitive rate.”

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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.
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