News: Northern New England
Posted: October 6, 2017
Whelan of NorthMarq Capital arranges $4.06 million refinancing
Hudson, NH Mark Whelan, vice president of NorthMarq Capital’s Boston regional office, arranged refinancing of $4.06 million for a 36-unit multifamily property. The transaction was structured with a 10-year term on a 25-year amortization schedule.NorthMarq arranged financing for the borrower through its relationship with a regional bank.
“We were very pleased to secure favorable terms from a portfolio lender for our client on this legacy asset,” said Whelan. “The lender held the sub-4% rate for an extended period in a volatile market, enabling our clients to avoid a costly prepayment penalty.”
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