ATLANTA (August 11, 2017) Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta regional office, arranged the refinancing of $3,800,000 for Beal Commons, a 25,260 sq. ft. retail property located in Fort Walton Beach, Florida. The transaction was structured with an eight-year term on a 20-year amortization schedule, with 18 months interest-only. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
“The borrower wanted prepayment flexibility with a longer term and a fixed rate, which the bank was able to provide,” said Mack.