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