Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market and the debt and equity markets, click here.)

WASHINGTON TWP., NJ-The owners of Eagle Rock Apartments, a 240-unit complex here, have obtained a refinancing package totaling $7.5 million secured by the property. For Eagle Rock Associates LLC, the funding replaces a first mortgage at a lower, unspecified rate.

The financing was arranged by Robert Ranieri, senior vice president and managing director of capital markets in the Greater Westchester NY/CT regional office of NorthMarq Capital Inc. The package is based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower by NorthMarq through the firm’s seller-servicer relationship with Freddie Mac.

Located at Zachary Lane and Church St. here, Eagle Rock Apartments is an affordable rental complex. The property has recently undergone “a substantial renovation,” Ranieri says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.