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Posted: July 14, 2014
Berns of NorthMarq Capital negotiates $11.58 million refinance; Center Pointe at Radisson, 121-unit multifamily
Sam Berns, senior vice president of NorthMarq Capital's Rochester based regional office arranged the $11.58 million refinancing of Center Pointe at Radisson, a 121-unit multifamily property located at 8927 Center Pointe Dr. The transaction was structured with a 10-year term and 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac.
"Freddie Mac was extremely accommodating with respect to all of our client's needs," said Berns. "This included maximum loan proceeds for a cash-out transaction, future funding upon completion of an adjacent project addition and intricate family estate planning needs."
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