Northmarq’s Boston office arranges $2.2 million refinance of multifamily property in Somerville, Massachusetts
Multifamily Property
BOSTON, MASSACHUSETTS (August 26, 2021) – Jeff Munoz, vice president of Northmarq’s Boston office, completed the $2.2 million refinance of 249 Summer Street. The 6-unit multifamily property is located in Somerville, Massachusetts. The transaction was structured with a 10-year interest-only term followed by a 30-year amortization schedule. NorthMarq negotiated the permanent-fixed loan for the borrower through its relationship with an agency lender.
“We are excited to have originated this loan through an agency lender, further increasing their exposure to Greater Boston's strong multifamily market. Our client was excited to take advantage full-term interest-only payments,” noted Munoz.
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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.
