NorthMarq Capital arranged $5.787 million mortgage for One Franklin Square Apartments in Syracuse, New York
One Franklin Square Apts
WESTCHESTER, NY (April 8, 2013) – Robert W. Ranieri, senior vice president and managing director of NorthMarq’s Greater Westchester NY/CT regional office, arranged first mortgage refinancing of $5.787 million for One Franklin Square Apartments, a 141-unit market-rate multifamily property located at 460 North Franklin Street in Syracuse, New York. Financing was based on a 10-year term with 2 years interest only, then a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, 460 North Franklin Street Associates, LLC, through its seller-servicer relationship with Freddie Mac.
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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.
