Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Atlanta office arranges acquisition financing of $6,450,000 for Kensington Place in Greensboro, North Carolina

ATLANTA (October 14, 2016) – Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta-based regional office, arranged acquisition financing of $6,450,000 for Kensington Place, a 128-unit multifamily property located at 3844 Battleground Avenue in Greensboro, North Carolina. The transaction was structured with a 15-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, a limited liability company with Arcan Capital as the sponsor, through its Fannie Mae DUS program. Arcan Capital not only acquired the property, but will manage it as well.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.