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.