May 4, 2015

NorthMarq Capital arranges $7.096 million refinance of Regency Court Apartments in Suitland, Maryland

Regency Court Apts

Debt & Equity

Multi-Tenant

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.”

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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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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