NorthMarq Capital finalizes $14 million refinance of Windsor Gardens Apartments in Rochester, New York
Windsor Gardens Apts
GREATER WESTCHESTER NY/CT (February 23, 2015) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office arranged the $14 million refinance of Windsor Gardens Apartments, a 296 unit multifamily property located at 2859 Manitou Road in Rochester, New York. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Windsor Associates, L.P. through its Seller-Servicer relationship with Freddie Mac. “This is the third time Freddie Mac has refinanced this loan with this client,” said Ranieri. “The rate has dropped each time and the owner was able to cash out loan proceeds.”
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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.
