NORTHMARQ SECURES THREE N.J. LOANS TOTALING $17.15 MILLION

FORT LEE AND MORRIS COUNTY, N.J. — NorthMarq Capital has secured a total of $17.15 million in financing for three New Jersey properties. In the first transaction, NorthMarq arranged $8.9 million in permanent Fannie Mae DUS funds for Hampshire House, a 205-unit, luxury co-op property located at 1590 Anderson Ave. in Fort Lee. The borrower, which consists of trustees, will use the 20-year, self-liquidating loan to retire an existing loan on the property held by an insurance company. Greg Nalbandian of NorthMarq's New Jersey office arranged the transaction through Amerisphere Multifamily Finance. In the second transaction, Nalbandian worked on behalf of an undisclosed party to refinance the loans on two flex properties located in Morris County. The loans are for $4.125 million each and both carry 75 percent loan-to-value ratios. The properties total 173,000 square feet. The lender was a regional bank.