NorthMarq Capital’s Baltimore office arranges $12,585,000 refinance for Runaway Bay in Salisbury, Maryland
BALTIMORE (July 10, 2017) Bill Libercci, senior vice president/senior director of NorthMarq Capital’s Baltimore regional office, negotiated refinancing of $12,585,000 for Runaway Bay, a 180 unit multifamily property located in Salisbury, Maryland. The apartment complex offers numerous amenities such as an outdoor pool with clubhouse and is adjacent to The Centre at Salisbury regional mall. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae. “The borrower and lender worked hard to accommodate the borrower's desire to eliminate interest rate risk and refinance a good asset in a secondary market,” said Libercci.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
