Elliot Auerbacher, vice president of NorthMarq's (www.northmarq.com) New York City metro regional office, arranged first mortgage refinancing of $8.271 million for Fredonia Place, an 84-unit assisted living facility located at 50 Howard St. Financing was based on a 37-year fixed-rate mortgage at 2.55% and a 37-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a FHA lender.
NorthMarq, one of the largest privately held commercial real estate financial intermediaries in the country, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. 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.
In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. Tags: