Ranieri of NorthMarq arranges $9.4 million refinance

Rochester, NY Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office arranged the $9.4 million refinance of Hidden Creek Townhomes and Apartments.

The 227-unit multifamily property is located on Charwood Circle. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq secured financing for the borrower through its in-house Fannie Mae team.

Located in a wooded setting, Hidden Creek offers a mix of one-, two - and three-bedroom garden apartments and townhomes. Amenities include on-site laundry facilities, a 500 s/f fitness center and garage parking.

“The loan was rate locked and closed during the pandemic,” said Ranieri. “The property had no tenant defaults due to COVID. Fannie Mae offered a 10 year interest-only loan at a very competitive rate

Tags: Brokerage

Reprint

Previous Story Next Story

Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 247 Leonard St., a multi-family building located in the Williamsburg section of the city, for $2.175

GFP Real Estate continues leasing momentum at 322 Eighth Ave. with 9,952 s/f of transactions

GFP continues leasing momentum at 322 Eighth Ave.

Zimmet Law Group signs 5,476 s/f lease at GFP Real Estate’s 515 Madison Ave.

Zimmet Law signs 5,476 s/f lease at GFP’s 515 Madison Ave.

1122 Madison Avenue inks $21.175 million contract

Rudin secures 55,335 s/f lease with JAMS at the top of 3 Times Square

Rudin secures lease with JAMS at the top of 3 Times Square

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Owners Developers & Managers

Real estate tax challenges: More about value, less about taxes - by Robert Renda and Christopher Terrell

Columns and Thought Leadership

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.