 (1).gif)
News:
Finance
Posted: January 7, 2009
Ranieri of NorthMarq Capital Inc. arranges $26 million for 2 properties
Robert Ranieri, senior vice president and managing director of NorthMarq Capital, Inc. arranged combined first mortgage refinancing of $26 million for 3 apartment properties that contain a combined total of 444 multifamily units. The properties are located in Hamden and Middletown, Conn.
Ridgefield Apartments, containing 262-multifamily units, was refinanced at $13.75 million and is located in Middletown.
Hamden Ridge Apartments, containing 135-multifamily units, was refinanced at $9.732 million and Jefferson Arms, containing 47-multifamily units, was refinanced at $2.517 million. Both of these properties are located in Hamden.
Financing for these transactions was based on a 10-year term plus 1-year fixed to float with 5 years interest only then a 30-year amortization schedule thereafter and was arranged for the borrower, Midcon Partners Limited Partnership, by NorthMarq through its seller-servicer relationship with Freddie Mac.
Tags:
Finance
MORE FROM Finance
Funding your project: Available, but expensive, in many ways - by Daniel Calano
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
 (1).gif)
Columns and Thought Leadership
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
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
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.
