Bjornsund of NorthMarq Capital arranges $18 million mortgage

Craig Bjornsund, senior vice president and managing director of NorthMarq Capital's (NorthMarq) New York Metro Regional office arranged first mortgage financing in the amount of $18 million for 2161-2169 Broadway (a/k/a 235-241 W. 76th St.). The property contains 76 units of multifamily residential apartments. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Colorado Associates, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac. Bjornsund said, "Freddie Mac was able to deliver a very competitive long-term fixed rate on this extremely well-located Upper West Side apartment building. The building boasts large pre-war units with wonderful light and air." NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. The NorthMarq Capital group offers commercial real estate investment banking, investment sales, real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, averaging $10 billion in annual production volume and servicing a loan portfolio of nearly $39 billion. NorthMarq Real Estate Services provides brokerage, property management and healthcare advisory services to investors and space users, and through its Corporate Solutions division, provides mid-size corporate users real estate services nationwide. For more information, please visit www.northmarq.com.