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NorthMarq Capital Arranges $29M Refinance For Boston Apartment Buildings

Jun 2, 2015 | Reprints | Unlock Link | Print

NorthMarq Capital has arranged the $29.3 million refinancing of the Symphony and Hemenway Apartments in Boston.

The three apartment buildings contain 116 units.

The $29.3 million commercial mortgage financing represented the final pieces of $54.3 million in financing for a five-building portfolio of apartments in the Fenway neighborhood of Boston. Michael J. Chase, vice president of NorthMarq Capital’s Boston regional office, arranged the financing.

“The closings of the Symphony & Hemenway Apartments combined with the recent closings of the Westland Avenue Apartments completed the refinance of over 217 units,” Chase said in a statement. “Quality location, assets and sponsorship all lead to a completive long-term fixed rate financing while also providing the sponsors with prepayment flexibility going forward.”

Banking & Lending