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NorthMarq Arranges $1M Mortgage Refinancing For Springfield Apartments

Jun 18, 2013 | Reprints | Unlock Link | Print

NorthMarq has completed the first mortgage refinancing of a Springfield apartment building for $1.1 million. Michael Chase, assistant vice president of NorthMarq’s Boston regional office, arranged the refinancing.

The property, located at 216-220 Pearl St., contains 26 market-rate multifamily units.

Financing was based on a 7-year term and a 25-year amortization schedule. It was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender.

Commercial & Industrial