M ID A TLANTIC Real Estate Journal — New Jersey — December 24, 2021 - January 20, 2022 — 7B N EW J ERSEY
www.marej.com
296-unit multifamily property is located at 200 Delanco Road Cohen of Northmarq NJ of fi ce secures $16.9M re fi nance of The Courtyards in Edgewater Park
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Northmarq offers commer- cial real estate investors access to experts in debt, equity, investment sales and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $30 bil- lion, loan servicing portfolio of more than $70 billion and the multi-year tenure of our more than 700 people. MAREJ
DGEWATER PARK, NJ — Gary Cohen , managing director and
senior vi ce p r e s i d e n t a t No r t h - marq’s New J e r s e y r e - gional office, arranged the $16.9 million refinance of The Court -
Gary Cohen
a section of the MARE Journal Phone: 781-740-2900 www.marej.com S ECTION P UBLISHERS Linda Christman lchristman@marejournal.com Lea Christman lea@marejournal.com S ECTION E DITOR Karen Vachon editor@marejournal.com NJPA “First Montgomery Group is a full-service real estate investment and development company active in the resi- dential multifamily business in and around New Jersey,” said Cohen. “Northmarq was hired by FMG to arrange long term financing and we were successful in arranging a 15- year loan. The interest rate was fixed six months prior to closing enabling the borrower to lock in favorable terms.” About Northmarq As a capital markets leader, yards, a 296-unit multifamily property located at 200 Delan- co Rd. in Edgewater Park. The apartment complex features 152 one-bedroom and 144 two-bedroom units equipped with new interiors and modern fixtures along with common area amenities including a resort-style swim- ming pool, fitness center and fireside clubhouse. The permanent fixed rate loan was structured with a 15-year term with 5 years of interest only followed by a 30- year amortization at a rate be- low three percent. Northmarq arranged financing for the borrower, First Montgomery Group, through its correspon- dent relationship with a life insurance company.
The Courtyards
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