NorthMarq’s White Plains office arranges $44.426 million refinance of Little Ferry, New Jersey multifamily portfolio
WHITE PLAINS (June 14, 2019) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-based regional office arranged the $44,426,000 refinance of a multifamily portfolio consisting of three properties: Gilbert Manor, North Village I and North Village II. The three properties contain a combined 516 units.
The permanent-fixed rate loans were structured with 7-year terms with 2-years of interest only followed by 30-year amortization schedules. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac.
“This was the fourth time we have refinanced this portfolio with Freddie Mac. We continue to increase the loan proceeds and reduce the borrower's interest costs,” said Ranieri.
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.
