Multifamily - Debt

NorthMarq Capital finalizes $14 million refinance of Windsor Gardens Apartments in Rochester, New York

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.”

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 more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.