September 16, 2013

NorthMarq Capital arranges $8.625 mortgage for Riverside Gardens in Hackettstown, New Jersey

Riverside Gardens

Debt & Equity

Multi-Tenant

PARSIPPANY (September 16, 2013) – Gary Cohen, senior vice president and senior director of NorthMarq’s North New Jersey regional office, arranged a first mortgage loan in the amount of $8.625 million for the acquisition of Riverside Gardens, a 120-unit, market-rate multifamily property located in Hackettstown, New Jersey. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, C2 Realty Partners, through its relationship with a local bank. “The property traded at a very aggressive cap rate and the bank provided a 75% loan-to-purchase price at a very competitive interest rate,” Cohen said.

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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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