News: Financial Digest
Posted: January 19, 2017
Whelan of NorthMarq Capital arranges $8 million refinancing
Mark Whelan, NorthMarq CapitalManchester, NH Mark Whelan, vice president of NorthMarq Capital’s Boston-based regional office, arranged the $8 million refinance of a 110-unit multifamily property. The transaction was structured to be co-terminus with Phase II financing.
NorthMarq arranged financing for the borrower through its relationship with a regional bank.
“We were very happy to assist our long-term client with a modification of a previous loan to include this new phase of the development,” said Whelan.
NorthMarq, one of the largest privately held commercial real estate financial intermediaries in the U.S., provides debt, equity and commercial loan servicing through its 36 offices nationwide.
The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion.
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