James and Ranieri of NorthMarq negotiate $23.99 million first mortgage

Michael James, VP of NorthMarq Capital's Upstate New York Regional office and Robert Ranieri, senior VP and managing director of NorthMarq Capital's Capital Services Group East, arranged first mortgage financing of $23.99 million for Annapolis Roads Apartments, a 282-unit multifamily property located at One Eaglewood Rd. Financing was based on an eight-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS lender. James said, "The borrower was able to secure favorable fixed-rate financing through this Fannie Mae funding structure."