NORTHMARQ CAPITAL ARRANGES $26 MILLION FOR THREE APARTMENT COMMUNITIES

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MIDDLETOWN AND HAMDEN, CONN. — NorthMarq Capital has arranged a total of $26 million in first-mortgage loans for the refinancing of three Connecticut multifamily properties. In Middletown, $13.75 million was secured for the 262-unit Ridgefield Apartments. In Hamden, $9.73 million was secured for the 135-unit Hamden Ridge Apartments, and $2.51 million was secured for the 47-unit Jefferson Arms Apartments. Robert Ranieri originated the loans for the borrower, Midcon Partners, through Freddie Mac. Terms of the loans include a 10-year term plus 1 year fixed to float with 5 years interest-only payments, followed by a 30-year amortization schedule.

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