NorthMarq’s Orlando and Tampa offices arrange debt and equity acquisition financing of $68,459,000 for Element 41 in Marietta, Georgia
Element 41
ORLANDO, FLORIDA (September 30, 2020) – NorthMarq’s Orlando and Tampa office secured acquisition financing totaling $68,459,000 for Element 41. The 494-unit multifamily property is located in Marietta, part of the Atlanta, Georgia MSA.
The transaction was structured with a 10-year term and 5-years of interest only followed by a 30-year amortization schedule. NorthMarq secured the transaction for the borrower, Blue Lake Capital, through the company’s OPTIGO status as a Freddie Mac lender, as well as a preferred equity investment from an institutional investor.
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.
