NorthMarq negotiated with the existing lender to dramatically discount the prepayment penalty to a level where refinancing was the most fiscally sound course of action for the trustees, according to Nalbandian. "We worked for several months to effectuate the prepayment level that was needed to get this deal done," he says. "As a result of the financing, the borrower was able to significantly lower his rate, raise capital and lock in very favorable financing in this current low rate environment."

In a separate deal, NorthMarq also arranged a $24.75 million permanent loan for a 300-unit apartment complex in College Park, MD. The seven-year, interest only loan was, again, done through AmeriSphere. NorthMarq reached an agreement with the existing life company lender to discount the prepayment penalty and recast the loan. Nalbandian tells GlobeSt.com, "We saved the institutional sponsor millions of dollars on their prepayment penalty enabling them to significantly better their rate on an interest only basis and lessen their loan term to be more in line with their exit strategy."

Additionally, through AmeriSphere, a Fannie Mae permanent loan of $4.32 million was obtained for the acquisition of an 84-unit apartment complex in Middletown, MD. According to Nalbandian, "the 10/30 loan was secured at the low rate of 5.43% at an 80% loan to value."