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News:
Owners Developers & Managers
Posted: June 5, 2008
NorthMarq arranges financing for two multi-family props. totaling $7.1m
Robert Ranieri, senior vice president and managing director of capital services in NorthMarq Capital, Inc.'s Greater Westchester NY/CT regional office, arranged first mortgage refinancing of $5 million for Robert Treat Apartments in Milford. Also a second mortgage of $2.1 million for Scott Gardens and P. R. Scott Apartments located in Waterbury.
Financing for Robert Treat Apartments, the 124-unit multifamily property was based on a 10-year term plus 1 year fixed-to-float with interest only for the full term and was arranged for the borrower, Robert Treat Associates LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.
Financing for Scott Gardens, the 276-unit multifamily property was based on a 6.5-year term with a 30 year amortization schedule and was arranged for the borrower, Scott Gardens, LLC and P. R. Scott, LLC, also through its seller-servicer relationship with Freddie Mac.
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