NorthMarq’s Atlanta office finalizes $14.678 million refinance of Creekwood North in Gulf Port, Mississippi
Creekwood North
ATLANTA, GEORGIA (August 16, 2021) – Randy Wolfe, senior vice president/managing director of NorthMarq’s Atlanta office, secured the $13,155,000 refinance of Cimarron Ridge. The multifamily property, built in 1996, contains 204 units and is located at 15235 O’Neal Road in Gulf Port, Mississippi. The transaction was structured with a 12-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Fannie Mae. The property will benefit from recent upfront value-add physical improvements, which have allowed the borrower to increase rent and occupancy simultaneously.
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.
