Robert Ranieri, senior vice president and managing director of NorthMarq Capital's Capital Services East Group arranged first mortgage refinancing of $4.5 million for 301 East 84th St. The asset is a multifamily property consisting of 25 residential units and one retail unit. Financing was based on a five-year plus five-year term and a 30-year amortization schedule and was arranged for the borrower, TA Realty Corp., by NorthMarq through its relationship with Investors Bank. According to Ranieri, the borrower needed to close in 45 days and Investors was able to make it happen.
NorthMarq, one of the largest privately held commercial real estate financial intermediaries 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 multifamily 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. For more information, please visit www.northmarq.com. Tags: