CHARLOTTE, NORTH CAROLINA (May 5, 2021) – Mark Ebersold, vice president of NorthMarq’s Charlotte regional office arranged the $7.65 million refinance of Cottages on Wesleyan. The 45-unit independent living facility is located at 1633 Wesleyan Drive in Macon, Georgia. The transaction was structured with a 10-year term on a 30-year amortization schedule through Fannie Mae.
“The owner constructed the asset over 20 years ago, and he has done an outstanding job of maintaining it as a Class A asset in the market,” said Ebersold. “The property offers its residents patio-style living with 1- and 2-bedroom floorplans, and it has a strong historical occupancy.”
This is the third transaction that NorthMarq has executed for the Macon-based client, a valued long-term partnership.