Multifamily

NorthMarq Capital arranged $2.55 million mortgage for Mountcrest Apartments in Charlotte, North Carolina

CHARLOTTE (January 8, 2013) – Kevin Jenkins, vice president of NorthMarq’s Charlotte Regional office, arranged acquisition financing of $2.55 million for Mountcrest Apartments, a 125-unit market-rate multifamily property located in Charlotte, North Carolina. Financing was based on a 2-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower, Pfalzgraf Communities 7, LLC, through its relationship with a regional bank.

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.