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Tue, Feb 19
A Compendium of Property & Capital News
Feb 19
A Compendium of Property & Capital News

Whelan/Northmarq Secures $36.2 Million for Workforce Housing In Londonderry

January 24, 2018 - By The Real Reporter
Rendering Multifamily Property, Londonderry NH

LONDONDERRY, NH—Mark Whelan, Vice President of NorthMarq Capital’s Boston regional office, recently arranged construction loan financing of $36,230,000 for a multifamily property located in Londonderry, New Hampshire. A portion of the 288 units will be designated as workforce housing.

The financing terms include a permanent option at stabilization. “The sponsors’ proven track record, coupled with the well-thought-out structure of the development process, resulted in our clients securing favorable terms in what some believe to be a difficult environment for the new product,” said Whelan. NorthMarq ultimately took pride in its ability to secure the financing given the detailed rendering design and history of success on part of the development firm.

Mark Whelan