Berns of NorthMarq Cap. handles $18.08m for Webster Manor Apts.

Sam Berns, senior vice president and managing director of NorthMarq Capital's Upstate New York Regional office, arranged first mortgage financing in the amount of $18.08 million for Webster Manor Apartments, a 308-unit multifamily complex. Financing was based on a 7-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 permanent financing enabled our client to achieve a return of invested equity following improvements and rent increases to this property. He said, "AmeriSphere along with Fannie Mae were excellent to deal with and closed the transaction within 45 days." NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. The NorthMarq Capital group offers commercial real estate investment banking, investment sales, real estate debt and equity financing, and commercial loan servicing in 30 offices coast-to-coast, averaging $10 billion in annual production volume and servicing a loan portfolio of more than $37 billion. NorthMarq Real Estate Services provides brokerage, property management and healthcare advisory services to investors and space users, and through its Corporate Solutions division, provides mid-size corporate users real estate services nationwide.