Multifamily - Debt

NorthMarq Capital secures $14,362,838 refinance of Morgan Loft Apartments in Jersey City, New Jersey

GREATER WESTCHESTER NY/CT (November 2, 2016) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office and Greg Nalbandian, senior vice president/managing director of NorthMarq Capital’s North New Jersey regional office, arranged the $14,362,838 refinance of Morgan Loft Apartments, a 36-unit multifamily property located at Steuben Street and Morgan Street in Jersey City, New Jersey. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower, Morgan Steuben Associates, LLC, through its seller/servicer relationship with Freddie Mac.

“This was a refinance of an existing Freddie Mac loan,” said Ranieri. “The owner is very experienced in the Jersey City market and the loft style units are in strong demand.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.