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Northmarq provides $19.1M refinancing for Dover Run Apartments

The financing, arranged via Freddie Mac’s Optigo platform, was set on a five-year term with a 35-year amortization schedule.

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ConnectCRE reports that Northmarq’s Philadelphia Debt + Equity team provided $19.1 million to refinance Dover Run Apartments at 2670 Springhouse Bend in Dover, Pennsylvania.

The lender said it arranged the transaction on behalf of the borrower, Boyd Wilson, and that the financing was secured through Freddie Mac’s Optigo platform.

The deal was structured with a five-year term and a 35-year amortization schedule, according to ConnectCRE.

ConnectCRE also said the property was built in 2019 and includes 154 units across 13 garden-style buildings, offering one- and two-bedroom apartments.

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