NorthMarq Capital’s Boston office secures $2.282 million for multifamily portfolio in Douglas and Whitinsville, Massachusetts
BOSTON (January 31, 2017) – Ed Riekstins, senior vice president/managing director of NorthMarq Capital’s Boston-based regional office, finalized the $1 million refinance of four properties in Douglas, Massachusetts (347 Main Street, 349 Main Street, 353 Main Street and 355 Main Street) and the $1.282 million refinance of three properties in Whitinsville, Massachusetts (258-260 Church Street, 87 East Street and 87.5 East Street). The entire portfolio contained a combined 41 units. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac. “The ease of the lender’s closing process coupled with the strength of the borrower’s property management made this a successful transaction,” said Riekstins. “We look forward to doing more business with both the lender and borrower in the future.”
Meet our team
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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
