NorthMarq Capital’s Atlanta office arranges acquisition financing of $7,475,000 for multifamily property in Winston-Salem, North Carolina
ATLANTA (October 14, 2016) – Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta-based regional office, arranged acquisition financing of $7,475,000 for Sedgefield Apartments, a 144-unit multifamily property located at 4755 Country Club Road in Winston-Salem, North Carolina. The transaction was structured with a 7-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 and the sponsor worked quickly and efficiently to close this acquisition loan within the time frames required under the purchase contract,” stated Mack.
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.
