Northmarq’s Boston Debt + Equity team has arranged acquisition financing for Elora Flats & Townhomes, a mid-rise multifamily community in Lawrence, MA. The financing totals $22,855,000 and supports the purchase of the 104-unit property located at 112-114 Marston St. The assignment was completed on behalf of borrower Arrowpoint Properties LLC.
The lending was executed through Northmarq’s in-house Fannie Mae Delegated Underwriting and Servicing (DUS) platform. The loan is structured with a seven-year term that includes four years of interest-only payments, aligning long-term, fixed-rate agency capital with the property’s existing performance profile.
Northmarq’s Boston-based Debt + Equity team on the transaction was led by Jeff Munoz and included Kevin Sykes, Ed Riekstins and Jeffrey Munoz. The team worked with Arrowpoint Properties LLC to secure the financing and deliver a structure suited to the borrower’s acquisition strategy for the asset.
According to Northmarq, the Elora Flats & Townhomes financing marks the second transaction the firm has completed with Arrowpoint through its DUS platform in 2026. Commenting on the assignment, Sykes noted that Arrowpoint’s status as a repeat sponsor contributed to execution efficiency and predictability for this latest loan.
Elora Flats & Townhomes was built in 2009 and is composed of six four-story residential buildings. Together, the buildings contain 104 multifamily units, positioning the property as a mid-sized rental community within the Lawrence market.
The asset has demonstrated strong operating performance over the past year. Average occupancy has been 97.6% over the last 12 months, excluding units that were taken offline for renovation work. At the time of the financing, the property was characterized as 100% mission-driven, with all units reserved for residents earning at or below 80% of the area median income.
The combination of stable occupancy, an affordability-focused rent structure and established sponsorship provided the backdrop for the Fannie Mae DUS execution. The financing underscores continuing access to agency debt for income-producing, affordable multifamily properties supported by experienced borrowers.
