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Chicopee Apartments’ First Mortgage Refinanced

Jan 13, 2009 | Reprints | Print

Commercial real estate firm NorthMarq Capital’s Greater Westchester, NY/Conn. regional office, has arranged first-mortgage refinancing of $6.5 million for Montcalm Heights Apartments in Chicopee.

Financing for the 192-unit multifamily property was based on a 10-year term plus 1-year fixed to float with 5 years interest only, then a 30-year amortization schedule thereafter. It was arranged for the borrower, Montcalm Associates Limited Partnership, by NorthMarq through its seller-servicer relationship with Freddie Mac.

Commercial & Industrial