NorthMarq Capital’s Boston office arranged $3.36 million refinance of River Street Apartments in West Springfield, Massachusetts

River Street Apts
b4c3bda5-2c0f-4a70-b95c-3ff902968c25
BOSTON (January 19, 2017) – Ed Riekstins, senior vice president/managing director of NorthMarq Capital’s Boston-based regional office, finalized the $3.36 million refinance of River Street Apartments, a 99-unit multifamily property located in West Springfield, Massachusetts. The transaction was structured with a 10-year term on 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower was very satisfied with the closing process as they were able to secure the desirable rate and complete a quick closing in the time frame requested,” explained Riekstins. “We look forward to doing more business with both parties.”

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.

Image
NM Web Icon News Black

Stay on top of industry research