January 14, 2013

Arranged $4.75 Million Bridge Loan for Mississippi HAP Portfolio

Mississippi HAP Portfolio

Debt & Equity

Multi-Tenant

NEW YORK (January 14, 2013) – Elliot Auerbacher, vice president of NorthMarq’s New York City Metro Regional office, arranged a bridge loan of $4.75 million for acquisition of the Mississippi HAP Portfolio. The portfolio consists of four affordable housing, 100% Section 8 properties with a combined total of 338 units located in rural Mississippi. Financing was based on a 9-month interest-only term. NorthMarq arranged this financing for the borrower through its relationship with a hard-money bridge lender. “Financing affordable housing transaction so that deserving families have shelter is important to not just the community, but also to our company,” Auerbacher said. “It’s a noble cause that adds an extra layer of value to our work.”

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.