Multifamily - Debt, Equity

NorthMarq’s Atlanta office negotiates preferred equity for $43.236 million construction loan of multifamily property in Decatur, Georgia

ATLANTA, GEORGIA (October 5, 2020) – NorthMarq’s Atlanta office originated preferred equity and advised the client on senior financing both equaling $43,236,000 (85% of the capital stack) needed to start construction of a 240-unit multifamily property. The project will be located at 3360 Mountain Drive in Decatur, Georgia. The transaction was structured with a 3-year interest-only term. NorthMarq arranged the financings for the borrower through its relationship with a regional bank. 

The client’s unique project design and unit mix proved compelling to provide a cost basis well under nearby competing projects either recently started or just announced. This asset will be one of only three Fee Simple projects along Marta’s east line that are Transit Oriented, not on leased Marta land and sharing a stop light entrance to the Marta Station. 

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 $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.