Multifamily apartment property - Manchester, NHManchester, NH Edward Riekstins, senior vice president, and Michael Chase, vice president of NorthMarq Capital’s Boston based regional office secured the $3.89 million refinance of three multifamily apartment properties on Prospect St., Myrtle St. and Elm St. The combined properties total over 60 units.
NorthMarq arranged the commercial mortgage financing for the borrower through its relationship with a local bank.
“The quality assets, prime location and experienced sponsorship were keys to this successful transaction,” said Chase. “The lender was able to offer the long-term fixed rate financing requested by the borrower, while still providing a flexible prepayment structure.”
NorthMarq Capital, one of the largest privately held commercial real estate financial intermediaries in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S.
The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus, the Fannie Mae DUS program and through FHA, resulting in more than $13 billion in annual production volume and a loan portfolio of more than $45 billion.