Multifamily - Debt

NorthMarq Capital

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.”

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 $55 billion and the multi-year tenure of our more than 500 people.