James of NorthMarq places $2.012m mtge. for 48-unit multifamily prop.

Michael James, VP of NorthMarq Capital, Inc.'s upstate New York regional office, arranged first mortgage financing in the amount of $2.012 million for the New Country Village, a 48-unit multifamily property. Financing was based on a 10-year fixed term plus one-year floating and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac. According to James, the borrower saved closing costs for third party reports by using Freddie's Streamlined Refinance Program.