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.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
