Whelan of NorthMarq Capital places $2.39 million supplemental financing

Manchester, NH Mark Whelan, vice president of NorthMarq Capital’s Boston-based regional office, arranged earn-out/supplemental financing of $2.39 million for a 123-unit multifamily property. The transaction was structured with an 8-year term on a 28-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

“This transaction represents the supplemental funding of the initial acquisition loan,” said Whelan. “Our longstanding clients were able to improve the asset’s operating performance to a sufficient degree within 18 months of acquisition to warrant these additional dollars.” 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary 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, and has maintained a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.