Finance Mortgage Banking
NorthMarq Mortgage for River West Lofts in Chicago
May 7, 2008

Sue Blumberg, senior vice president and managing director of NorthMarq Capital Inc.’s Chicago Regional office, arranged third mortgage financing of $3.9 million for River West Lofts, a 158-unit multi-family property, located in Chicago, Ill. Financing was based on a 6-year term with a 30 year amortization schedule and will run co-terminus with the first and second mortgages. This financing was arranged for the borrower, River West Lofts Limited Partnership, by NorthMarq through relationship with Freddie Mac.

 
Recent Mortgage Banking Headlines
Bush Drops Resistance to Housing Bill; House Expected to Vote Today
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Despite his objections over a $3.9 billion provision that would assist communities devastated by foreclosures, President George W. Bush today dropped his opposition to housing rescue legislation. He was previously threatening to veto the legislation.
Paulson_Henry Administration’s Fannie, Freddie Bailout Could Cost $25B
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The Congressional Budget Office (CBO) has submitted a report to the House Budget Committee on the Bush Administration’s proposal to provide temporary authority to Treasury Secretary Henry Paulson to purchase any amount of obligations and other securities issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
lefleur jeff W. P. Carey Closes European Sale-Leaseback
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W. P. Carey & Co. has reported that CPA(R):16 - Global, its publicly held non-traded REIT affiliate, has provided approximately 19 million euro of sale-leaseback financing to Schoeller Arca Systems through the acquisition of two manufacturing facilities located in Monheim, Germany and Nurieux, France.
Ben Bernanke Bernanke: Housing Crisis at Heart of Economic Woes
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Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee today the housing crisis coupled with rising oil prices are “at the heart of the current (economic) uncertainty.”
General Growth Closes Part 1 of $1.8B Loan
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