NorthMarq’s White Plains office arranges $44.426 million refinance of Little Ferry, New Jersey multifamily portfolio
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.
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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.
