Northmarq’s Raleigh office secures $62.5 million refinance of 600-unit multifamily property in Greenville, NC
Valera East
RALEIGH, N.C. (Oct. 6, 2023) — Tom Peloquin, managing director of Northmarq’s Carolina’s Debt + Equity team, has successfully closed a 10-year fixed rate Fannie Mae loan for Valera East, a 600-unit multifamily property, for $62.5 million. The loan closed in roughly 30 days. Peloquin originated the financing for the sponsor through Northmarq’s in-house Fannie Mae DUS Platform. The transaction was structured on a 10-year term with 5 years interest-only.
“Northmarq provided the borrower an excellent Fannie Mae execution, with a quick close, cash-out refinance including attractive pricing to pay off a high-cost bridge loan,” said Peloquin.
View Northmarq’s financing services here.
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.
