NorthMarq Capital finalizes $5.06 million acquisition for the Regency Apartments located in Sussex, New Jersey
Regency Apts
PARSIPPANY (March 3, 2014) – Gary Cohen, senior vice president/senior director of NorthMarq Capital’s New Jersey based regional office closed a $5,062,500 loan for the acquisition of Regency Apartments, a 100-unit multifamily property located in Sussex, New Jersey. The borrower worked exclusively with Cohen, to finance this transaction with a local bank. Financing was based on a 12-year term and 30-year amortization schedule at a very attractive 3.6 percent interest rate. “This was the fourth acquisition loan in the past six months between the borrower and lender,” said Cohen.
About Northmarq
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.