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NorthMarq Capital Arranges $15.6M in Financing for Worcester Property

Jul 19, 2018 | Reprints | Unlock Link

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NorthMarq Capital has arranged $15.6 million in construction financing for a project in Worcester called Harding Green. The project will have 48 market-rate apartment units, a restaurant and 16,000 square feet for a public market. Construction on the project started in May and will be completed by next summer.

“Support from the city and state in the form of real estate tax abatements and HDIP credits helped to support the projects feasibility,” Doug Nickerson, vice president of NorthMarq, said in a statement. “Our client’s investment in the neighborhood will be a significant contribution to the revitalization of this historic area of Worcester.”

The financing led by the NorthMarq team was arranged with a regional bank.

B&T Daily