NorthMarq Capital arranges $10.8 million refinance for Birchwood Hills Apartments in Shirley, Massachusetts
Birchwood Hills Apts.
BOSTON (April 22, 2014) – Doug Nickerson, vice president of NorthMarq Capital’s Boston regional office arranged the $10.8 million refinance for Birchwood Hills Apartments, a 68-unit multifamily property located in Shirley, Massachusetts.The transaction was structured with a 7-year term and 25-year amortization schedule and was arranged for the borrower, Birchwood Hills Corporation by NorthMarq through its seller/servicer relationship with Freddie Mac. “Freddie Mac beat out significant competition on this transaction. They priced the loan aggressively based on an existing relationship with the borrower, proactive property management and superior asset quality,” said Nickerson.
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.
