Northmarq announces $7.25 million refinancing of 184-unit multifamily property in Anderson, SC
JACKSONVILLE, Fla. (Dec. 15, 2023) — Northmarq’s Jacksonville Debt + Equity team of Ryan Whitaker, senior vice president and managing director, and Andrew Meyers, vice president, has completed the $7.25 million refinancing of The Hamptons Apartments. The 184-unit multifamily property was built in 2003 and is located at 100 Hudson Circle in Anderson, South Carolina. Northmarq secured the permanent fixed rate loan for the borrower through its in-house Fannie Mae DUS Platform. The transaction was structured on a 5-year term.
“This was a great execution for our client. The property qualified as mission-driven, affordable housing, and the loan was structured as a cash neutral refinance with a low loan-to-value and high debt coverage ratio,” said Whitaker. “The borrower was rewarded for its conservative loan request with the lowest interest rate spread I closed in 2023.”
