Sidney Spiegel, vice president of NE Moves Mortgage, commercial division, arranged a $1.6 million permanent loan for a mixed use building in the Back Bay. The loan was funded by a Fannie Mae Lender.
The funds will be used to provide long term financing for the property. The lender recognized how well the owners had maintained and upgraded the property and was able to provide long term fixed rate non recourse financing with a 7 year fixed rate and 30 year amortization.
NE Moves Mortgage works closely with union pension plans, insurance companies, conduits, commercial banks, and local savings banks to provide competitive rates and terms for all types of commercial real estate.
NE Moves Mortgage's expertise and relationships with a variety of funding sources provides solutions to the financing needs of investors and developers.