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.”