The Overland Park, Kan., office of NorthMarq Capital recently arranged first mortgage financing of $40.43 million for a five-property multi-family portfolio in Pennsylvania.
David Farrell, senior vice president and managing director of the Kansas City Regional office of NorthMarq, closed the financing for multi-family properties located in Pennsylvania communities of Shillington, Camp Hill, Allentown, Lancaster and Sunbury.
Financing for each property was based on a 10-year term and a 30-year amortization schedule. It was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac though its Capital Markets Execution Program.
Each of the five properties is subject to age and income restrictions as part of HUD’s Section 8 Housing Assistance Payments Program.
