DERRY, N.H. — Newmark has arranged a $143.1 million Fannie Mae loan for Makor Capital’s refinancing of The Fairways in Derry, about 43 miles north of Boston. Newmark Vice Chairman Ed Belz arranged the deal. Makor acquired the asset, located at 1 Forest Ridge Road, in 2016.
Fairways is a garden-style community constructed in 1984 that features 849 units across a variety of two-, three- and four-story buildings. “By refinancing, we take some chips off the table while we continue to own and further improve the property over the long term,” said Chris Wyett, founder of Makor. “Makor generally has a long-term perspective provided we continue to see value potential and stable yields.” According to Makor’s website, the Needham, Massachusetts-based company owns six assets in New Hampshire.