Scott DeVinney, vice president of NorthMarq Capital's (NorthMarq) Upstate New York regional office arranged first mortgage financing in the amount of $3.61 million for Village Terrace Apartments, a 96-unit multifamily property. Financing was based on a 10-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a federal credit union. According to DeVinney, a unique aspect of this transaction is that there is no prepayment penalty. Tags: