The-Fairways-Derry-New-Hampshire

Newmark Provides $143.1M Agency Refinancing of Southern New Hampshire Apartment Community

by Taylor Williams

DERRY, N.H. — Newmark has provided a $143.1 million Fannie Mae loan for the refinancing of The Fairways, an 849-unit apartment community in Derry, located outside of Manchester near the Massachusetts-New Hampshire border. Built on 108 acres in 1984, the garden-style property features two-, three- and four-story buildings. Units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, great room, tennis courts, playground and a dog park. Ed Belz led the Newmark team that originated the financing on behalf of the owner, Makor Capital. The debt was structured with an early rate lock on a 10-year term with full-term, interest-only payments and a 35-year amortization schedule.

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