NorthMarq Capital arranges $9 million refinancing for Audubon Court Apartments in Audubon, Pennsylvania
Audubon Apts
PHILADELPHIA (November 11, 2013) – Joseph J. Sweeney, managing director of NorthMarq’s Philadelphia regional office, arranged refinancing of $9 million for the Audubon Court Apartments in Audubon, Pennsylvania. The 174-unit conventional market rate asset was structured with a 10-year term and a 30-year amortization schedule. NorthMarq arranged the financing for the borrower through its seller-servicer relationship with Freddie Mac. “Freddie Mac was extremely aggressive and won the business,” said Sweeney.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
