TODAY’s DEALS: NorthMarq Capital Arranges $8.5M First Mortgage Financing for Apt. Community

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By Erika Schnitzer, Associate EditorMt. Prospect, Ill.—NorthMarq Capital has arranged $8.5 million in first mortgage financing for Huntingtown Towers (pictured), a 214-unit apartment community located in Mt. Prospect, Ill.Financing was based on a 10-year term with a 30-year amortization schedule. It was arranged for the borrower—Huntington LLC—though NorthMarq’s affiliate, AmeriSphere Multifamily Finance, which is a […]

By Erika Schnitzer, Associate EditorMt. Prospect, Ill.—NorthMarq Capital has arranged $8.5 million in first mortgage financing for Huntingtown Towers (pictured), a 214-unit apartment community located in Mt. Prospect, Ill.Financing was based on a 10-year term with a 30-year amortization schedule. It was arranged for the borrower—Huntington LLC—though NorthMarq’s affiliate, AmeriSphere Multifamily Finance, which is a Fannie Mae DUS lender.The transaction was a refinance of an FHA 223 mortgage into a Fannie DUS loan. The deal rate, which was locked in seven days, was secured at 5.5 percent.Arbor Funds $2.43M Loan For Nine-Unit PropertyBrooklyn, N.Y.—Arbor Commercial Funding LLC has funded a $2,430,400 loan under the Fannie Mae DUS Small Loan product line for 81 Olive Street, a nine-unit apartment community in Brooklyn.The 10-year loan, which carries a note rate of 6.05 percent, amortizes on a 30-year schedule. Stephen York, director of Arbor’s New York lending office, originated the loan

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