Northmarq’s Atlanta Debt + Equity team arranges $7.7 million refinancing of 3 manufactured housing communities

ATLANTA (Feb. 12, 2025) — Northmarq’s Atlanta Debt + Equity team led by Van Glosson and Josh Darby successfully arranged a $7.7 million loan to refinance three Georgia manufactured housing communities, comprised of a total of 216 sites.

Northmarq arranged the permanent financing on behalf of the borrower through a relationship with Starwood Mortgage Capital. The borrower purchased the properties separately and invested additional capital to improve and stabilize each asset. The transaction was structured on a five-year fixed-rate term with full-term interest-only payments.

“Starwood was able to offer an attractive combination of proceeds and pricing through a seamless non-recourse CMBS execution,” said Glosson. “This allowed the borrower to unlock the significant value they have created at the properties since purchase.”

Glosson and Darby are members of Northmarq’s national manufactured housing team which has financed $1.5 billion of total loan volume since 2018.