NorthMarq’s Orlando and Tampa offices arrange debt and equity acquisition financing of $68,459,000 for Element 41 in Marietta, Georgia
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.
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.
