Robert Ranieri, senior vice president/managing director of NorthMarq Capital's Greater Westchester NY/CT-based regional office arranged the $14 million refinance of Windsor Gardens Apartments, a 296-unit multifamily property located at 2859 Manitou Rd. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Windsor Associates, L.P. through its seller-servicer relationship with Freddie Mac.
"This is the third time Freddie Mac has refinanced this loan with this client," said Ranieri. "The rate has dropped each time and the owner was able to cash out loan proceeds." Tags: