Northmarq’s Boston office arranges $2.2 million refinance of multifamily property in Somerville, Massachusetts

Multifamily Property
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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. 

 

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.

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