News:
Brokerage
Posted: March 24, 2014
Ranieri of NorthMarq Capital finances $6.968 million for Realm Boca Raton
Robert Ranieri, senior vice president and managing director of NorthMarq Capital's Greater Westchester NY/CT regional office arranged refinancing for Realm Boca Raton, located at SW 12th St., SW 2nd Ave. and SW 1st Ave., containing 102 units. Financing for the $6.968 million permanent loan was structured with a 7-year term and 30 year amortization schedule for the borrower, BG Camino Apartments, LLC. through NorthMarq's seller/servicer relationship with Freddie Mac.
"The loan was the conversion of a floating rate Freddie Mac loan into a fixed rate Freddie Mac execution," said Ranieri. "The borrower purchased the property two years ago, invested significant cap-ex and was able to increase the value of the property. The permanent loan resulted in the return of the majority of their equity in the property."
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap arranges $11.4 million sale of mixed-use property in Manhattan
Manhattan, NY Marcus & Millichap negotiated the sale of 196 Bowery, a mixed-use property in the NoLita neighborhood. The asset sold for $11.4 million.
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
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
