NorthMarq’s Boston office arranges $1.33 million in acquisition financing for multifamily property in Somerville, Massachusetts
Multifamily Property
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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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.
