FARGO, ND - NorthMarq Capital arranged a $6.24 million first mortgage refinancing for Amber Ridge Apartments, located at 2312 55th St. South.
John Reed, senior vice president and senior director of NorthMarq's Omaha Regional office, secured the financing for the 101,592 square foot multifamily property. The property contains 108 market-rate units.
Financing was based on a 10-year term and a 30-year amortization schedule.
It was arranged for the borrower, Amber Valley West Apartments LLC, by NorthMarq through its affiliate AmeriSphere Multifamily Finance LLL, a Fannie Mae Delegated Underwriting and Servicing Lender.
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