BOSTON (November 5, 2014) – James M. Murphy, managing director and Doug Nickerson, vice president of NorthMarq Capital’s Boston based regional office arranged the $17.55 million sale along with the acquisition financing of $14.175 million for the Windsor Terrace Apartments, a 134 unit multifamily property located at 502 West River Road in Hooksett, New Hampshire. Murphy represented the seller and Nickerson represented the borrower. The commercial mortgage transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac.
The town-home style apartment complex was built in 20144 and features an on-site club house, fitness room, dog walking trail and pool. The property is also located immediately off or Interstate 93 at the mid-point between Concord, New Hampshire—the state capital and Manchester, New Hampshire—the state’s largest city.
“This transaction represented a real team effort,” said Murphy. “The quality of the real estate spoke for itself and we were able to attract plenty of interest for both the acquisition and financing. Being one of the largest producers of Freddie Mac loans in the country allowed NorthMarq to execute the financing in less than 30 days from application to closing.”