NORTHMARQ CAPITAL ARRANGES $5.7M MORTGAGE FOR FRANKLIN APARTMENTS

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SYRACUSE, N.Y. — NorthMarq Capital has arranged the $5.7 million mortgage refinancing of One Franklin Square Apartments, a 141-unit, market-rate multifamily property located at 460 North Franklin Street in Syracuse. Financing was based on a 10-year term with two years of interest-only payments, then a 30-year amortization schedule. The borrower was 460 North Franklin Street Associates LLC. Robert Ranieri, senior vice president and managing director of NorthMarq, arranged the loan through the company’s seller-servicer relationship with Freddie Mac.

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