Senior Housing - Debt

NorthMarq Capital

NorthMarq Capital’s Westchester office arranges $5 million refinance of Lohman Village in Mount Vernon, New York

WESTCHESTER (June 10, 2016) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office, arranged a refinance of $5 million for Lohman Village, a 31-unit multifamily senior housing property located at 1 Wartburg Place, Mount Vernon, New York. The transaction was structured with a 5-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. The property is part of a large senior housing campus in Mount Vernon known as Wartburg that offers a full spectrum of senior living options. Lohman Village provides services and amenities in a retirement community to seniors who want to remain independent but without the responsibilities of home ownership. “A local bank was interested due to the desire to provide funding to assist senior living in Mount Vernon,” said Ranieri.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.