NorthMarq arranges $30 million construction loan for Tidewater at Salisbury in Salisbury, Massachusetts

Tidewater at Salisbury
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BOSTON (January 13, 2014) – Ed Riekstins, senior vice president of NorthMarq Capital's Boston regional office arranged permanent financing for a construction loan of $30 million for Tidewater at Salisbury, a 222,519 sq.ft. affordable housing complex located at 191 Beach Road, Salisbury, Mass. Financing for the transaction was structured with a construction period of up to 36 months with a 10-year term following the conversion date and 30-year amortization. NorthMarq facilitated financing for the borrower through its relationship with a national bank. “We were pleased we could accommodate the borrower’s requirements for sourcing a competitive construction/permanent loan for a new Class A multi-family project in an underserved market,” said Riekstins.

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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