Berns and Ranieri of NorthMarq arrange $24.72 million in financing

Sam Berns, senior VP and managing director of NorthMarq Capital's upstate New York regional office, and Robert Ranieri, senior VP and managing director of NorthMarq Capital's Capital Services East, arranged first mortgage financing in the amount of $24.72 million for a 432-unit garden-style multifamily complex. Financing was based on a 10-year term with interest only for years one and two then a 30-year amortization schedule and was arranged for the borrower, a Delaware LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.