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. Financing for 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.
Ranieri also arranged a second mortgage of $2.1 million for Scott Gardens and P. R. Scott Apartments located in Waterbury. Financing for 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, by NorthMarq through its seller-servicer relationship with Freddie Mac.
NorthMarq Capital, Inc., a national real estate investment banker headquartered in Minneapolis with 29 regional offices coast-to-coast, provides commercial real estate debt and equity financing and commercial loan servicing.