NorthMarq Capital’s Boston office negotiates $4.1 million for affordable housing in Port Orange, Florida
The Club at Sugar Mill
BOSTON (May 12, 2016) – Doug Nickerson, vice president, and Ryan Demadis, vice president of NorthMarq Capital’s Boston regional office, finalized the $4.1 million internal refinance for The Club at Sugar Mill, a 168-unit multifamily property located at 3600-3635 Carmel Avenue in Port Orange, Florida. The transaction was structured with a fully amortizing 30-year term. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “This was a refinance of an existing Fannie Mae affordable (LIHTC) loan,” noted Nickerson. “Our client took advantage of the low rate environment and secured a 30-year term, 30-year amortization, fixed-rate loan,” added Demadis.
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.
