TODAY’S DEAL: NorthMarq Capital Arranges $60Million A/B Note Bridge Financing for 446-Unit Rental Community
October 23, 2009
NorthMarq Capital’s (NorthMarq) Washington, DC office has arranged A/B Note bridge financing of $60 million for the 446-unit Highlands at Dearborn Apartments located in Boston.
Boston–NorthMarq Capital’s (NorthMarq) Washington, DC office has arranged A/B Note bridge financing of $60 million for the 446-unit Highlands at Dearborn Apartments located in Boston.
Financing was structured as an interest-only bridge loan and was arranged for the borrower through NorthMarq’s relationship with a major life insurance company. It is a class A project with an 80 percent loan-to-2011 stabilized value.
