Multifamily - Debt

Arranged $4.75 Million Bridge Loan for Mississippi HAP Portfolio

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.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.