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MOUNT VERNON, N.Y. — NorthMarq Capital has arranged a $2 million second mortgage for Lohman Village, a 31-unit adult care facility located in Mount Vernon, just outside of New York City proper.
NorthEast Community Bank provided the capital. The loan features a three-year term, which is coterminous with the first mortgage, followed by a 30-year amortization schedule. The loan will be used to fund upgrades to the community.
Robert Ranieri of NorthMarq Capital’s Westchester regional office arranged the financing.