NorthMarq Capital arranges $7.096 million refinance of Regency Court Apartments in Suitland, Maryland
Regency Court Apts
NEW JERSEY (May 4, 2015) – Gary Cohen, senior vice president of NorthMarq Capital’s New Jersey based regional office arranged the $7.096 million refinance of Regency Court Apartments, a 115 unit multifamily property located at 3215 Swann Road in Suitland, Maryland. The transaction was structured with a 10-year term with 2-years interest only and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac. “The borrower purchased the building in 2013 and within a year and a half was able to create significant value creation by reducing the vacancy rate and lowering expenses,” said Cohen. “Based on the improved value of the building, Freddie Mac’s loan was approximately 90 percent of the original purchase price.”
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.