WHITE PLAINS, NEW YORK (September 9, 2019) – Robert Ranieri negotiated the $7 million refinance of Montcalm Heights Apartments. The property is located at New Ludlow Road and Montcalm Street in Chicopee, Massachusetts.
– 10-year term (5-years interest only)
– 30-year amortization schedule
– Permanent fixed-rate loan
– NorthMarq arranged the financing for the borrower through its relationship with Freddie Mac
“This was a refinance of an existing Freddie Mac loan with a long standing Freddie Mac borrower. The borrower lowered his interest rate while borrowing additional proceeds for property improvements.”
– Robert Ranieri
– 192 units set in two 4-story elevator buildings.
– Spacious studio, one-bedroom and two-bedroom units with on-site parking.
– Community amenities: Outdoor swimming pool, laundry facilities, picnic area with barbeque grills, landscaped courtyard, tenant storage units and a management/ leasing office.