TODAY’S DEALS: NorthMarq Capital Arranges $20M Loan for 244-Unit Complex, and Other Transactions
- Mar 13, 2009
By Anuradha Kher, Online News EditorMiddlesex County, N.J.–NorthMarq Capital through its affiliate AmeriSphere has closed a $20 million multifamily loan on a 244-unit luxury apartment complex (pictured) in Middlesex County, N.J. NorthMarq New Jersey closed the loan in 28 days from deal identification. The borrower secured a 5.66 percent rate on a 10-year loan based on a 30 year amortization.Arbor Closes $11,025,000 Fannie Mae DUS Loan Holt, Mich.–Arbor Commercial Funding LLC recently completed funding of a $11,025,000 loan under the Fannie Mae DUS product line for Aspen Lakes Estates II, a130-unit apartment community in Holt, Mich. The 79-month loan amortizes on a 30-year schedule and carries a note rate of 6.34 percent.