Northmarq arranges $18.5 million Fannie Mae refinancing for multifamily property in Henrietta, NY

WHITE PLAINS, N.Y. (May 13, 2024) — Robert Ranieri, senior vice president/managing director of Northmarq’s Greater White Plains regional office arranged financing of Westbrooke Commons in Henrietta, NY (suburb of Rochester). The 340-unit, garden-style apartment complex was constructed in 1964 and is located within 10 miles of both the Frederick Douglass Greater Rochester International Airport and Rochester Institute of Technology. Northmarq arranged the permanent fixed loan for the borrower through its in-house Fannie Mae team.

“Northmarq’s Fannie Mae team was able to step up and provide an attractive deal with full-term interest only, while waiving all escrows for this long-time Northmarq client,” said Ranieri.

The property features a mix of studio, one-, two- and three-bedroom units across 45 residential buildings on approximately 22 acres. 224 of the property’s units are townhouse-style units. Amenities include a swimming pool, fitness center, playground, video library and laundry facilities.