NorthMarq Hits the Mark
A seniors housing property in Mount Vernon, New York just refinanced with the help of Robert Ranieri, senior vice president and managing director at NorthMarq. Located on a 34-acre campus, the community features 31 units, including both one- and two-bedroom step-free townhomes. Each unit comes with a full kitchen and bathroom, in-home washer and dryer, large walk-in closets and a spacious four-season room. NorthMarq negotiated a $7.5 million refinance, with a seven-year term, fixed rate and 30-year amortization schedule, through PCSB Bank. In addition, the borrower received a renewal option that allows them to lower their rate and borrow funds for future development on the... Read More »
NorthMarq Finances Affordale Seniors Housing
An affordable senior apartment community in Oxnard, California just refinanced with the help of Marty Meagher and Gardiner Champlin of NorthMarq’s San Diego office. Consisting of 101 units, the community received a $7.6 million loan from Fannie Mae, with a 10-year, interest-only term and a fixed interest rate. The financing paid off existing bond debt that was credit-enhanced by Fannie Mae. Management Innovations, Inc. operates the community, which features private patios or decks on most units, a recreation meeting room with fireside seeting, and a food service area. Read More »Schedule a demo
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