Ranieri of NorthMarq Capital arranges $6 million mortgage refinancing

Robert Ranieri, senior vice president/managing director of NorthMarq's Capital Services East Regional office arranged first mortgage refinancing of $6 million for Holly Brook Apartments/The Meadows Apartments. The asset consists of 192 multifamily units. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Holly Manor Associates, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac. "This was the third refinance of this property with Freddie Mac. The borrower has added units and increased the value substantially and realized a significant cash-out as a result," said Ranieri. 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. For more information, please visit www.northmarq.com.