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Finance
Posted: July 9, 2015
Chase of NorthMarq Capital places $25 million refinancing for 101 apartment units
Michael Chase, vice president of NorthMarq Capital's Boston based regional office arranged the $25 million refinance of Westland Ave. Apartments, three multifamily properties totaling 101 units in the Fenway neighborhood. The commercial mortgage transaction featured a competitive rate and a flexible prepayment structure. NorthMarq arranged financing for the borrower through its correspondent relationship Guardian Life Insurance Co. of America.
"This is a class "A" location—quality real estate and strong sponsorship," said Chase. "What more could you ask for? It was no wonder this deal was as well received as it was by out stable of lenders and Guardian was able to step to the forefront by being able to offer non-recourse financing at a competitive rate along with a flexible prepayment structure."
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Finance
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East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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Quick Hits
Columns and Thought Leadership
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
