Manchester, NH Michael Chase, vice president, and Ed Riekstins, senior vice president of NorthMarq Capital’s Boston-based regional office, arranged the $1.05 million refinance of a Manchester apartment portfolio. The three multifamily properties located on Chestnut St., Orange St. and Brook St., totaled 28-units. NorthMarq arranged the commercial mortgage financing for the borrower through its relationship with a regional bank.
“As they say, referrals are the kindest form of flattery,” said Chase. “Our recent successes in the Manchester market led us to this client. We were able to present several options for short-term and long-term fixed-rate financing which allowed the client to choose the rate, term and prepayment structure that suited him best.”
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.