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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

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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