Northmarq finalizes $52.8 million construction loan for Anthem House Apartments in Huntsville, Alabama
ATLANTA, GEORGIA (February 24, 2023) – Randy Wolfe, managing director, and Drew Markley, vice president, of Northmarq’s Atlanta debt and equity team, finalized the $52.8 million construction loan for Anthem House Apartments. The multifamily property will contain 304 units, along with 32,000 sq. ft. of ground level retail and 35,000 sq. ft. of incubator/collaborative office space. The site is located within the sponsor’s burgeoning MidCity District mixed use development.
Northmarq collaborated with a major regional bank to complete the transaction. The construction loan was structured on a 5-year term.
“The property will be a unique offering to the market, with a mix comprised of micro-units, incubator office space and ground floor retail. It will also be highly amenitized with a hotel inspired lobby with coffee bar, co-working lounge, best-in-class fitness center with yoga studios, community gardens, rooftop amenity space, and a resort-style pool with a courtyard for grilling,” said Wolfe.
