Northmarq arranges Fannie Mae financing for 261-unit mid-rise multifamily community in Jackson, MS
Photo source: District Lofts website
JACKSON, Miss. — Northmarq’s Institutional Capital Markets team, led by Chimnay Bhatt, Cody Kirkpatrick, Noam Franklin and Brian Fisher, successfully arranged permanent financing for The District Lofts, a 261-unit mid-rise multifamily community located at 120 District Blvd. E. in Jackson, Mississippi.
Northmarq arranged financing on behalf of the borrower, NorthRock Companies, through the firm’s in-house Fannie Mae DUS platform. The permanent fixed-rate financing is structured on a five-year term.
“NorthRock is a very experienced Agency borrower, which helped us efficiently structure and close this Fannie Mae loan for them,” Bhatt said. “We appreciate the partnership with the entire NorthRock team.”
Completed in 2017, District Lofts is a six-story multifamily property offering a mix of studio, one- and two-bedroom apartment homes. Residents benefit from chef-inspired kitchens, hazel white granite countertops, nine-foot ceilings, spacious balconies and in-unit laundry.
The community also boasts amenities such as an elevated saltwater pool, two outdoor kitchens, a fitness studio, internet access and a door-to-door valet trash removal service.
District Lofts is located within The District at Eastover — a prominent mixed-use destination that has become a focal point for retail, dining and residential growth in the Jackson market. Spanning nearly 20 acres, the community offers residents a walkable lifestyle centered around a blend of housing, shopping and entertainment amenities that distinguishes it from many traditional multifamily properties in the region.
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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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.