Cotsalas and DesRochers of NorthMarq secure $58.8m mortgage

February 18, 2008 - Financial Digest

Cunningham Heights Apartments - Queens Village, NY

Charles Cotsalas

Ernest DesRochers

Charles Cotsalas, VP, and Ernest DesRochers, senior VP and managing director in NorthMarq Capital, Inc.'s Long Island regional office, arranged first mortgage financing in the amount of $58.8 million for Cunningham Heights Apartments. Financing for the 1,056-unit multifamily property was based on a 10-year term plus a one-year extension with a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac.
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