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NorthMarq Provides Refi on NJ Multifamily
NorthMarq Capital has arranged a 38-million refinance on Camelot at Cinnaminson, a 405-unit multifamily property in the Burlington County township of Cinnaminson, NJ. Managing director Gary Cohen and investment analyst Marc Nevins arranged the loan on behalf of Kaplan Companies.
The permanent fixed-rate loan was structured with a fully amortizing 30-year term. NorthMarq arranged the financing through its correspondent relationship with a life insurance company.
“Kaplan Companies is a full service real estate investment and development company active in the residential, commercial and construction business in and around New Jersey,” said Cohen. “NorthMarq was hired by Kaplan to arrange long term financing and we were successful in arranging a 30-year self-amortizing loan with a national life company.”
The interest rate was set in the beginning of May, “enabling the borrower to lock in favorable terms months before their existing loan was open to prepayment,” Cohen added.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

