NorthMarq’s Boston office arranges $1.33 million in acquisition financing for multifamily property in Somerville, Massachusetts
BOSTON, MASSACHUSETTS (August 19, 2020) – Jeffrey Munoz, vice president of NorthMarq’s Boston office, finalized acquisition financing of $1.33 million for a six-unit multifamily property located at 565 Somerville Avenue in Somerville, Massachusetts. The transaction was structured with a 5-year term with 1-year of interest only followed by a 30-year amortization schedule at a 3.25% rate. NorthMarq arranged financing for the borrower through its relationship with a local credit union.
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