Ed Riekstins, senior vice president and Matt Marshall, vice president of NorthMarq Capital's Boston based regional office arranged the $9.45 million refinance of Madbury Rd. and Jenkins Court, a 13,293 s/f student housing/retail property located at 9 Madbury Rd. and 6 Jenkins Court on the University of New Hampshire campus.
The transaction was structured with a 20-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through a Fannie Mae DUS lender.
"The borrower's knowledge and experience with student housing as well as the well maintained property and its location were key to the success of the deal," said Riekstins. "The lender was able to get the proceeds and the terms the borrower was looking for. We look forward to doing more deals with this borrower."
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 35 offices coast to coast. With more than $13 billion in annual production volume and servicing a loan portfolio of more than $45 billion, the company offers expertise to borrowers of all sizes.
The company has a long track record of multi-family financing as a Freddie Mac Program Plusâ„¢ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long loan production and loan servicing relationships with more than 50 life companies, many CMBS platforms and hundreds of local, regional and national banks.