Ranieri of NorthMarq Capital arranges $31.3 million

Robert Ranieri, senior vice president/managing director of NorthMarq's Westchester, New York Regional office and Greg Nalbandian, senior vice president/managing director of NorthMarq's North New Jersey Regional office, cooperated to arrange combined first mortgage refinancings of $31.3 million for North Village I and II. North Village I, a 160-unit market-rate multifamily property, was financed at $12.75 million. North Village II, a 248-unit market-rate multifamily property, was financed at $18.55 million. The combined total of units for these two properties is 408 units. Financing was based on a 7-year term with two years interest only then a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac. NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. With an average of $8 billion in annual production volume and servicing a loan portfolio of nearly $40 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plusâ„¢ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks.