Senior Housing - Debt

NorthMarq negotiates $7.65 million refinance of independent living facility in Macon, Georgia

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.

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.