Robert Ranieri, senior vice president/managing director of NorthMarq Capital's Greater Westchester NY/CT based regional office arranged financing for Quinnipiac Gardens. This 71-unit property received refinancing of $4.796 million.
The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Quinnipiac Gardens, Incorporated, through its seller/servicer relationship with Freddie Mac.
"The property was recently renovated and provides affordable housing for residents of New Haven," said Ranieri.