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 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.
