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.
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
