DEAL OF THE DAY: NorthMarq Arranges 35-Year, $15M Mortgage via AmeriSphere

Memphis, Tenn.--Sam Berns, senior vice president and managing director of NorthMarq Capital's Upstate New York Regional office arranged first mortgage financing in the amount of $15,002,500 for Crescent at Wolfchase, a 200-unit multifamily property located here.

Memphis, Tenn.–Sam Berns, senior vice president and managing director of NorthMarq Capital’s Upstate New York Regional office arranged first mortgage financing in the amount of $15,002,500 for Crescent at Wolfchase, a 200-unit multifamily property located here.

Financing was based on a 35-year term and a 35-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Mortgage Finance LLC, a FHA multifamily lender.

According to Berns, this loan provided close to 85 percent Loan-to-Value. “AmeriSphere FHA group worked diligently with the borrower and HUD to resolve many issues prior to closing,” he says.

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