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.
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.
