Retail

NorthMarq Capital’s Atlanta office arranges $3.8 million refinance of Beal Commons at Fort Walton Beach, Florida

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.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.