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.