Cotsalas and DesRochers of NorthMarq secure $58.8m mortgage

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.