NorthMarq’s Orlando and Tampa offices provide debt/equity financing for $202.5 million acquisition of 11-property, 1,966-unit multifamily portfolio

11-Property Portfolio

Debt & Equity

Multi-Tenant

MINNEAPOLIS, MINNESOTA (August 1, 2019) – NorthMarq’s Orlando and Tampa offices collaborated on a complex 11-property portfolio package comprised of six new Freddie Mac Value Add Green Advantage loans, five loan assumptions from Fannie Mae, and $40 million in equity over the entire portfolio. The financing packing included $110,062,000 of new debt and JV equity and was secured within an expedited six-week timeline.

NorthMarq represented the Florida-based REIT on its acquisition of the class B/C multifamily portfolio comprised of 1,966 units in Savannah, Macon, Canton, and Augusta, Georgia.

The buyer, Carter Multifamily, acquired the portfolio for $202.5 million from Kole Management.

The list of properties includes:
• Ten 35 Alexander – Augusta, GA - 200 units
• Heritage at Riverstone - Canton, GA - 240 units
• Falls at Spring Creek – Macon, GA - 296 units
• Legacy at River Crossing – Macon, GA - 200 units
• Riverstone – Macon, GA - 220 units
• Azure Cove – Garden City, GA - 144 units
• Kessler Point – Garden City, GA - 120 units
• The Arbors – Garden City, GA - 108 units
• Alhambra – Savannah, GA - 150 units
• Carriage House – Savannah, GA - 144 units
• Ridgewood – Savannah, GA - 144 units

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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.