NorthMarq Capital’s Boston office arranges acquisition financing of $4.846 million for Manchester, New Hampshire multifamily
Manchester Multifamily
BOSTON (January 25, 2017) – Mark Whelan, vice president of NorthMarq Capital’s Boston-based regional office, arranged acquisition financing of $4.846 million for a 67-unit apartment complex located in Manchester, New Hampshire. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “We were happy to find a portfolio lender with the creativity to include an earn-out for $950,000 while also providing initial funding subject to a 10-year fixed-rate term,” said Whelan. “This lender also held the initially quoted rate at 3.75 percent despite the recent run-up in rates related to the election.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
