NorthMarq Capital’s Atlanta office finalizes $4 million refinance of Claire Tower in Columbia, South Carolina

Claire Tower
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Bank
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ATLANTA (November 18, 2016) – Johnny Rankin, vice president of NorthMarq Capital’s Atlanta-based regional office negotiated the $4 million refinance of Claire Tower, a 121-unit multifamily property located in Columbia, South Carolina. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac. “We were able to procure a sub 4 percent interest rate refinance on a 10-year term and 30-year amortization for Claire Tower, a 1951, 12-story multifamily property located in downtown Columbia, South Carolina,” said Rankin. “Through our relationship with a Freddie Mac Small Balance Program lender, we were able to meet a tight closing deadline as the borrower had a looming CMBS maturity.”  

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About Northmarq 
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.
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