Northmarq announces $7.25 million refinancing of 184-unit multifamily property in Anderson, SC
JACKSONVILLE, Fla. (Dec. 15, 2023) — Northmarq’s Jacksonville Debt + Equity team of Ryan Whitaker, senior vice president and managing director, and Andrew Meyers, vice president, has completed the $7.25 million refinancing of The Hamptons Apartments. The 184-unit multifamily property was built in 2003 and is located at 100 Hudson Circle in Anderson, South Carolina. Northmarq secured the permanent fixed rate loan for the borrower through its in-house Fannie Mae DUS Platform. The transaction was structured on a 5-year term.
“This was a great execution for our client. The property qualified as mission-driven, affordable housing, and the loan was structured as a cash neutral refinance with a low loan-to-value and high debt coverage ratio,” said Whitaker. “The borrower was rewarded for its conservative loan request with the lowest interest rate spread I closed in 2023.”
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
