Multifamily - Debt

NorthMarq Capital

NorthMarq’s White Plains office completes $16 million refinance of Village Manor in Nutley, New Jersey

WHITE PLAINS, NEW YORK (April 24, 2019) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-based regional office arranged the $16 million refinance of Village Manor, a 227-unit multifamily property located on Adams Street in Nutley, New Jersey. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac. 

The garden-style complex featuring one and two bedroom units is located near Route 3 in the center of Nutley, New Jersey. The property benefits from close proximity to retail shopping, restaurants, recreation, post office and town hall—all within a few blocks. Village Manor’s location offers easy access to major highways and close proximity to public transportation.  Community amenities include laundry facilities, 24-hour on-site maintenance and assigned surface and garage parking. 

“This was a low-leverage refinance of an existing Freddie Mac loan with a long-term NorthMarq Freddie Mac borrower,” said Ranieri. “Freddie Mac and NorthMarq always recognize the importance of repeat business with quality clients.” 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.