Relihan of NorthMarq arranges first mortgage financing: $16 million

Frank Relihan, vice president of NorthMarq's Washington DC Regional office arranged first mortgage financing of $16 million for 75 Henry St., a 33-story co-operating building containing 370 multifamily units. Financing was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Whitman Owner Corp., by NorthMarq though its seller-servicer relationship with Freddie Mac. According to Relihan, the interest rate for this transaction is 4.79% with a 12% loan to value. Freddie Mac granted a 25% discount on the prepayment of the existing Freddie loan.