TODAY’S DEALS: NorthMarq Capital Completes $34.2M First Mortgage Financing for Four-Property MF Portfolio, and Other Transactions
- Oct 14, 2008
By Anuradha Kher, Online News EditorSt. Louis, Miss.– NorthMarq Capital, Inc.’s St. Louis regional office, recently arranged first mortgage financing of $34.2 million for the Waterford Apartment portfolio located in St. Louis. The portfolio consists of four multifamily properties featuring a total of 746 units. Financing was based on a 10-year term and a 30-year amortization schedule, with the first two years interest only and was arranged for the borrower by NorthMarq through its affiliation with AmeriSphere Multifamily Finance.Arbor Closes Three DUS Loans Totaling $4,994,000 Edinburg, Texas, Winchester, Va, Johnson Creek, Wis.–Arbor Commercial Funding LLC has completed funding of three loans totaling $4,994,000 under the Fannie Mae DUS product line. These include:An acquisition loan of $2,208,000 under the Fannie Mae DUS Small Loans product line for a Palms Villas Apartments, a 96-unit complex located in Edinburg, Texas. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent. A $1,600,000 acquisition loan under the Fannie Mae DUS Small Loan product line, for the 44-unit Winchester-Smithfield Apartments, located in Winchester, Va. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.72 percent. An acquisition loan of $1,186,000 under the Fannie Mae DUS MHC product line for the 45-unit Back Acres in Johnson Creek, Wis. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.59 percent.