Senior Housing - Debt

NorthMarq’s White Plains office arranges $7.5 million refinance of senior housing property in Mount Vernon, New York

WHITE PLAINS, NEW YORK (August 12, 2019) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-based regional office, finalized the $7.5 million refinance of Lohman Village. The 31-unit senior housing property is located at 1 Wartburg Place in Mount Vernon, New York. NorthMarq arranged the permanent fixed rate loan for the borrower through its relationship with the lender, PCSB Bank. The transaction was structured with a 7-year term on a 30-year amortization schedule.

Located on the beautifully landscaped 34-acre Wartburg campus, Lohman Village features 31 one- and two-bedroom step-free townhomes with parking right at the door. Each unit comes with a full kitchen and bathroom, in-home washer and dryer, spacious four-season Florida room and large walk-in closets.

“NorthMarq was able to negotiate a low fixed rate transaction with a renewal option to allow Wartburg to lower their rate and borrow funds for future development on the campus,” 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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.