NorthMarq Capital’s Baltimore office arranges $12,585,000 refinance for Runaway Bay in Salisbury, Maryland
Runaway Bay
BALTIMORE (July 10, 2017) Bill Libercci, senior vice president/senior director of NorthMarq Capital’s Baltimore regional office, negotiated refinancing of $12,585,000 for Runaway Bay, a 180 unit multifamily property located in Salisbury, Maryland. The apartment complex offers numerous amenities such as an outdoor pool with clubhouse and is adjacent to The Centre at Salisbury regional mall. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae. “The borrower and lender worked hard to accommodate the borrower's desire to eliminate interest rate risk and refinance a good asset in a secondary market,” said Libercci.
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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.
