Northmarq Facilitates $22M Fannie Mae Loan For Springvale Apartments In Croton-on-Hudson

The Springvale Apartments is a 524-unit active adult community in Croton-on-Hudson, New York. Situated on a 35-acre site overlooking the Hudson River, this property consists of 31 buildings constructed between 1956 and 1959. It is designated for renters aged 55 and above.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $22,000,000.00
• Address: 2 Skytop Dr, Croton-on-Hudson, NY
• Market: Croton On Hudson

Robert Ranieri of Northmarq served as the Managing Director in arranging the $22 million Fannie Mae loan for the refinancing of the Springvale Apartments. The loan has a 10-year term and a 30-year amortization schedule. The borrower's identity was not disclosed in the transaction.