Multifamily - Debt

NorthMarq Capital arranged $15.75 million mortgage for Alta Steele Creek Apartments in Charlotte, North Carolina

CHICAGO (January 3, 2013) – Jeff Frankel, senior vice president and senior director of NorthMarq’s Chicago Regional office, and Charlie Robinson, senior vice president and senior director of NorthMarq’s Dallas Regional office, cooperated to arrange acquisition financing of $15.75 million for Alta Steele Creek Apartments, a 240-unit market-rate multifamily community located at 10830 Morgan Creek Drive in Charlotte, North Carolina. Financing was based on a 5-year interest-only term and was arranged for the borrower, a Midwest-based owner/operator of multifamily properties, by NorthMarq through its relationship with a correspondent life insurance company.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.