NorthMarq Capital secures $14,362,838 refinance of Morgan Loft Apartments in Jersey City, New Jersey
Morgan Loft Apts
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.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.