Multifamily - Debt

NorthMarq Capital arranges three multifamily transactions in Pennsylvania totaling $61.475 million

GREATER WESTCHESTER NY/CT (February 16, 2015) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office secured refinancing of a combined $61.475 million for Congress Apts, Quakertown West and Antietam Arms, three multifamily properties located in Pennsylvania.

“NorthMarq and Freddie Mac were able to offer 80% cash out financing on a 7-year loan which was very competitive,” said Ranieri. “Freddie also held the spread during a very volatile interest rate market.”

Congress Apartments: This 548 unit property, located at 1207 East Congress Street in Allentown, Pennsylvania received refinancing of $36.3 million. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac.

Quakertown West: This 264 unit property, located at 491 South Ninth Street in Quakertown, Pennsylvania received refinancing of $18.2 million. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac.

Antietam Arms: This 148 unit property, located at 850 Carsonia Avenue in Reading, Pennsylvania received refinancing of $6.975 million. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.