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