Milford, CT Robert Ranieri, senior vice president/managing director of NorthMarq Capital’s Westchester-based regional office, arranged the $6.7 million refinance of Robert Treat Apartments, a 124-unit multifamily property located at 30-60 Robert Treat Dr.
The permanent-fixed loan was structured with a 10-year interest-only term. NorthMarq arranged financing for the borrower, Robert Treat Associates, LLC, through its seller/servicer relationship with Freddie Mac.
“The borrower was seeking to refinance an existing Freddie Mac loan and cash out to make improvements to the property,” said Ranieri. “They refinanced with Freddie Mac given their familiarity with the process and Freddie provided a competitive quote and offered 10 years interest-only.”
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD.