NorthMarq Capital’s Atlanta office finalizes $4 million refinance of Claire Tower in Columbia, South Carolina
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.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
