January 30, 2017

NorthMarq Capital’s Boston office arranges acquisition financing of $4.846 million for Manchester, New Hampshire multifamily

Manchester Multifamily

Debt & Equity

Multi-Tenant

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.”

Available Multifamily properties

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.