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

Three Multifamily Transactions
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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, 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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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