NorthMarq Capital arranges two multifamily transactions totaling $7.546 million
Two Multifamily Transactions
WESTCHESTER (August 18, 2014) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office arranged financing for two separate multifamily properties in Connecticut and New Jersey. Quinnipiac Gardens: This 71-unit property located in New Haven, Connecticut received refinancing of $4.796 million. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Quinnipiac Gardens, Incorporated, through its seller/servicer relationship with Freddie Mac. “The property was recently renovated and provides affordable housing for residents of New Haven,” said Ranieri. Equestrian House: This 30-unit property located in Hackensack, New Jersey, received refinancing of $2.750 million. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Francisco Apts Inc., through its relationship with a regional bank. “The loan was refinanced with the existing lender to take advantage of lower interest rates,” said Ranieri.
Meet our team
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.
