Northmarq Capital completes refinancing for four multifamily properties totaling $41 million
HAMILTON, NJ — Robert Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based office arranged refinancing totaling a combined $41 million for a portfolio of four multifamily properties located in Hamilton. The properties that received financing included: Winding Brook Apartments (336-units), Zachary Arms Apartments (240-units), Yorkshire Apartments (128-units) and Hamilton Arms Apartments (166-units). The transactions were structured with 15-year terms and 30-year amortization schedules.
NorthMarq arranged financing through Freddie Mac. The company has a long track record of multi-family financing as a Freddie Mac Program Plus Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance
“Freddie Mac was able to waive a portion of the prepayment penalty to keep these loans on the books,” said Ranieri.