NorthMarq’s Atlanta office finalizes $14.678 million refinance of Creekwood North in Gulf Port, Mississippi
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.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
