BOSTON (December 1, 2015) – Edward Riekstins, senior vice president, and Michael Chase, vice president of NorthMarq Capital’s Boston based regional office secured the $3.89 million refinance of three multifamily apartment properties on Prospect Street, Myrtle Street and Elm Street. The combined properties total over 60 units in Manchester, New Hampshire. NorthMarq arranged the commercial mortgage financing for the borrower through its relationship with a local bank.
“The quality assets, prime location and experienced sponsorship were keys to this successful transaction,” explained Chase. “The lender was able to offer the long-term fixed rate financing requested by the borrower, while still providing a flexible prepayment structure.”