NorthMarq Capital of Boston has arranged for $4.725 million to refinance a multifamily/mixed-use portfolio of 11 total properties – six in Holyoke and five in Springfield.
The local property owner is Atlas Property Management. NorthMarq arranged financing through First Niagara Bank, which provided a single loan divided up pro-rata according to the individual properties’ values.
“It was a pleasure to work with both sides of the transaction to structure a mutually beneficial portfolio financing,” Matt Marshall, vice president of NorthMarq’s Boston office, said in a statement. “The owner brought significant insight and hands on experience to the transaction. Management’s history and local presence were key components of the deal and the bank was able to offer a tailored long-term solution.”