RALEIGH (August 28, 2013) – Todd Crouse, senior vice president and senior director of NorthMarq’s Raleigh regional office, arranged first mortgage refinancing of $5.397 million for Merriwood Apartments, a 152-unit, market-rate multifamily property located at 100-A Merriwood Drive in Cary, North Carolina. Financing was based on a 10-year term and a 30-year amortization schedule. The loan was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender. The lender provided these funds not only to refinance the current debt but to also complete certain improvements and renovations.
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