NorthMarq’s White Plains office secures $7 million refinance of Montcalm Heights Apartments in Chicopee, Massachusetts
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.
Financing Details:
- 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
Producer Quote:
“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
Property Details:
- 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.
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.
