Northmarq Lends $19M for 154-Unit Multifamily Property in Pennsylvania
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- Disclosed multifamily deal value tracked in September 2026: $11.6B across 138 reported transactions. All Multifamily coverage →
- 53 stories mentioning Northmarq on the wire in the past 90 days. Northmarq coverage →
Computed from Real Estate Trail’s own tracked coverage
Northmarq’s Philadelphia Debt + Equity team, led by John Banas and Kris Wood, along with David Singer and Jeff Steigerwalt, has lent $19.1 million for the refinancing of Dover Run Apartments located at 2670 Springhous…
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