Other - Debt

NorthMarq Capital

NorthMarq Capital arranges $9 million acquisition/development financing for 144.82 acre single family lot development in Fuquay-Varina, North Carolina

ATLANTA (October 16, 2017) – Bert Roberds and Randy Wolfe, of NorthMarq Capital’s Atlanta regional office, arranged acquisition/development financing for Meadowbrook, a single family lot development located on 144.82 acres in Fuquay-Varina, a bedroom community of Raleigh, North Carolina. The $9 million revolving line of credit was structured with a 36-month interest only term. One important feature of the loan is that it does not require all of the project’s equity to be contributed up front. NorthMarq arranged financing for Blake Investment Partners through its relationship with a national bank.

“Meadowbrook will be a successful venture for this experienced developer,” said Roberds. “We were pleased to be able to structure a revolving line that will help our client in achieving their business plan while maximizing returns for their investors.”

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.