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Posted: February 22, 2010
Berns of NorthMarq Capital arranges $20.826 million first mortgage
Sam Berns, senior VP and managing director of NorthMarq Capital's upstate New York regional office, arranged first mortgage financing in the amount of $20.826 million for Webster Green, a 192-unit multifamily complex.
Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
According to Berns, this transaction represented a six-month forward commitment funded through the Fannie Mae DUS program.
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