NorthMarq secures $62.6 million bridge loan for The Estates at Crossroads in Duluth, Georgia

The Estates at Crossroads

Debt & Equity

Multi-Tenant

ORLANDO, FLORIDA (July 20, 2021) – NorthMarq’s Orlando office collaborated with NorthMarq’s Tampa office to arrange the $62.6 million bridge loan for The Estates at Crossroads. The 344-unit multifamily property, built in 2002, is located at 2620 North Berkeley Road North West in Duluth, Georgia. The Estates at Crossroads features a desirable tenant base employed by a mix of industries. The property is in excellent condition but there is room for renovations and rent bumps, a perfect mix for this true value-add investment.

The transaction was structured with a 5-year interest-only term. NorthMarq arranged financing for the borrower through their relationship with a bridge/mezzanine lender

Community amenities include: Resort-style pool; white-on-white-appliances; sundeck with grilling area; spacious resident clubhouse; billiards table; pet friendly; dog park; tennis court; fitness center; business center; nearby nature trail; playground; detached garages and access controlled gates. Apartment amenities include: Stainless steel appliances; custom cabinetry; breakfast bar; double vanity sinks; garden tubs; full-size washer and dryer; ceramic tile flooring; 9’ ceilings; spacious closets.

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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.