BOSTON (May 4, 2015) – Michael Chase, vice president of NorthMarq Capital’s Boston based regional office arranged the $25 million refinance of Westland Avenue Apartments, three multifamily properties totaling 101 units located in the Fenway Neighborhood of Boston, Massachusetts. The commercial mortgage transaction featured a competitive rate and a flexible prepayment structure. NorthMarq arranged financing for the borrower through its correspondent relationship Guardian Life Insurance Company of America.
“This is a class “A” location—quality real estate and strong sponsorship,” noted Chase. “What more could you ask for? It was no wonder this deal was as well received as it was by out stable of lenders and Guardian was able to step to the forefront by being able to offer non-recourse financing at a competitive rate along with a flexible prepayment structure.”