NorthMarq Capital’s Atlanta office secures $22.2 million refinance of University of West Georgia student housing in Carrollton, Georgia
ATLANTA (October 31, 2016) – Will James, vice president of NorthMarq Capital’s Atlanta-based regional office, arranged the $22.2 million refinance of Flats at 316, a 240-unit University of West Georgia student housing property located at 316 Columbia Drive in Carrollton, Georgia. The transaction was structured with a 3-year interest only term. NorthMarq arranged financing for the borrower through its relationship with a bridge lender. “The loan retires existing financing and will provide additional funds to update the clubhouse construct new amenities and reposition the property,” said James. Bruce Foster, senior vice president/managing director, collaborated with James throughout the financing process.
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.
