Northmarq’s Raleigh office secures $62.5 million refinance of 600-unit multifamily property in Greenville, NC
Valera East
RALEIGH, N.C. (Oct. 6, 2023) — Tom Peloquin, managing director of Northmarq’s Carolina’s Debt + Equity team, has successfully closed a 10-year fixed rate Fannie Mae loan for Valera East, a 600-unit multifamily property, for $62.5 million. The loan closed in roughly 30 days. Peloquin originated the financing for the sponsor through Northmarq’s in-house Fannie Mae DUS Platform. The transaction was structured on a 10-year term with 5 years interest-only.
“Northmarq provided the borrower an excellent Fannie Mae execution, with a quick close, cash-out refinance including attractive pricing to pay off a high-cost bridge loan,” said Peloquin.
View Northmarq’s financing services here.
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