NorthMarq Capital’s Atlanta office arranges acquisition financing of $5.85 million for office building in Marietta, Georgia
1090 Northchase Parkway
ATLANTA (March 1, 2016) – Johnny Rankin, vice president and Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta based regional office arranged acquisition financing of $5.85 million for a 106,000 sq. ft. office building located at 1090 Northchase Parkway in Marietta, Georgia. The 65 percent non-recourse bank financing was structured with a local bank. “A local bank provided the sponsor with a non-recourse loan at a very attractive rate on a 25-year amortization with no prepayment penalty, escrows or reserves required,” explained Rankin. “The lender was very comfortable with activity in the market and the well-below market rents for the asset, resulting in the attractive loan for the borrower.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.