NorthMarq Capital Arranges Three Multifamily Loans Totaling $61.48M in Pennsylvania

ALLENTOWN, QUAKERTOWN AND READING, PA. — NorthMarq Capital has arranged a total of $61.48 million in refinancing for three multifamily properties in Pennsylvania. Robert Ranieri of NorthMarq Capital’s Greater Westchester, N.Y./Conn. regional office secured the financing through the firm’s seller-servicer relationship with Freddie Mac for each transaction. Located at 1207 E. Congress St. in Allentown, the 548-unit Congress Apartments received $36.3 million in refinancing. The 7-year loan features a 30-year amortization schedule. In Quakertown, the 264-unit Quakertown West apartment community, located at 491 S. Ninth St. received an $18.2 million loan, featuring a 7-year term and a 30-year amortization schedule. Additionally, the 148-unit Antietam Arms apartment community, located at 850 Carsonia Ave. in Reading, received $6.98 million in financing, also with a 7-year term and a 30-year amortization schedule.