NORTHMARQ ARRANGES $30M FOR TIDEWATER AT SALISBURY
SALISBURY, MASS. — NorthMarq Capital has arranged $30 million in construction financing for Tidewater at Salisbury, a 222,519-square-foot affordable housing complex in Salisbury. Financing for the transaction features a construction period of up to 36 months with a 10-year term following the conversion date and a 30-year amortization schedule. A national bank provided the loan. Ed Riekstins, senior vice president of NorthMarq Capital’s Boston regional office, arranged the permanent financing. The development is located at 191 Beach Road, about 40 miles north of Boston.