Northmarq’s Debt + Equity team arranges $14.518M refinance of Haven at Palmer Pointe LIHTC new construction
COLUMBIA, S.C. — Northmarq’s Chicago Debt + Equity team led by Kevin McCarthy and Alex Czachor successfully arranged the $14.518 million permanent fixed-rate loan for Haven at Palmer Pointe, a 150-unit age-restricted affordable Low-Income Housing Tax Credit (LIHTC) newly completed community in Columbia, South Carolina.
Northmarq provided a Freddie Mac Forward Rate Lock Tax Exempt Loan (TEL), which allowed the borrower to lock in permanent fixed-rate financing at the outset of construction.
"The Forward TEL allowed Columbia Housing Authority to lock in permanent financing at the start of construction, eliminating interest rate risk and setting the project up for long-term stability,” McCarthy said. “Haven at Palmer Pointe is a wonderful addition to the Columbia community, and we're proud to have played a role in delivering quality affordable housing for the area's senior residents.”
Brinshore Development, one of the country's leading affordable housing developers, served as co-developer alongside Columbia Housing Authority on the project. True to their mission of building vibrant, prosperous communities, Haven at Palmer Pointe is a reflection of that mission, completing construction in 2025 and bringing high-quality housing to Columbia's senior residents ages 62+. The property features a community room, pickleball court, fitness center, shuttle services, and market-rate quality unit finishes.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
