Other - Debt


NorthMarq secures $9.25 million in acquisition financing for commercial land assemblage in Seattle, Washington

CHARLOTTE, NORTH CAROLINA (June 2, 2021) – Mark Ebersold, vice president in NorthMarq’s Charlotte office arranged acquisition financing of a commercial land assemblage in Seattle, Washington. The transaction, structured with a 1-year interest-only term, closed within 30 days and enabled the borrower to complete the assemblage needed for a multi-family development. The creative structure of the transaction provided the client the ability to borrow 100 percent of the proceeds needed to purchase the land, while using additional collateral to give the lender adequate underwriting comfort. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.    

 “NorthMarq was able to find the one lender capable of providing the maximum loan proceeds by agreeing to take preferred equity as additional collateral,” said Ebersold. 

 

 

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 $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.