NorthMarq Capital arranged $6 million mortgage for Beech Spring Apartments in Summit, New Jersey
Beech Spring Apts
WESTCHESTER, NY (January 8, 2013) – Robert W. Ranieri, senior vice president and managing director of NorthMarq’s Greater Westchester NY/CT Regional office, arranged first mortgage refinancing of $6 million for Beech Spring Apartments, a 53-unit market-rate multifamily property located at 6 Beech Spring Drive in Summit, New Jersey. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Fortune Properties-Summit, LLC and Roselle Apartments-Summit, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.
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