Multifamily - Debt

NorthMarq Capital

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.