ATLANTA, GEORGIA (June 29, 2020) – The debt and equity team of NorthMarq’s Atlanta office arranged the refinancing of this 312-unit property located at 405 Peachtree Parkway in Peachtree City, Georgia for $38,350,000. The loan structure has a 7-year loan term with 5-years IO and a 30-year amortization schedule. NorthMarq secured this Agency loan for the borrower, Venterra Realty, through its relationship with Freddie Mac.
“Our relationship with Faron Thompson led us to trust NorthMarq’s Atlanta team with our latest deal with Balmoral Village. They were able to quickly and seamlessly help us pivot from our pre-COVID plans to sell the property and negotiate attractive refinancing through their relationship with Freddie Mac which easily persuaded us to refinance, said Dror Goldberg, Executive Vice President of Venterra Realty.”
Peachtree City attracts many residents because of its close proximity to Atlanta, and the access to high paying jobs. In 2017, the average income for Peachtree City was $30,000 above the national average, and it continues to grow at a high rate. This apartment property caters to renters who look for an escape from the Atlanta CBD, with its two resort-style pools, tennis courts, and access to the 100’s of miles of golf cart paths that connect the entire city. Residents also have easy access to numerous restaurants, shops, a recreation center, park, and several schools all within close proximity to the community.