Multifamily
Debt & Equity

NorthMarq Capital secures earn-out/supplemental financing of $2.39 million for multifamily in Manchester, New Hampshire

BOSTON (March 9, 2017) – Mark Whelan, vice president of NorthMarq Capital’s Boston-based regional office, arranged earn-out/supplemental financing of $2.39 million for a 123-unit multifamily property located in Manchester, New Hampshire. The transaction was structured with an 8-year term on a 28-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “This transaction represents the supplemental funding of the initial acquisition loan,” said Whelan. “Our longstanding clients were able to improve the asset’s operating performance to a sufficient degree within 18 months of acquisition to warrant these additional dollars.”

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.

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Manchester Multifamily
Debt
$2,390,000