Multifamily - Debt

NorthMarq's Hernandez arranged $13.355 million in combined mortgages for two multifamily properties in Georgia

TAMPA (July 1, 2013) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office, arranged combined first mortgage refinancings of $13.355 million for two multifamily properties located in Georgia. The two properties contain a combined total of 378 market-rate units.

• Hidden Colony Apartments is a 280-unit, market-rate multifamily property located at 3373 Aztec Road in Doraville. It was financed at $9,675,000.
• Spaulding Hills Apartments is a 98-unit, market-rate multifamily property located at 6701 Winterbrook Court in Atlanta. It was financed at $3,680,000.

Financing for both of these transactions was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, a national multifamily investor, through its seller-servicer relationship with Freddie Mac. “The lender and sponsor worked diligently to close these transactions in a rising interest rate environment,” Hernandez said. “The sponsor did a fantastic job of maintaining these older multifamily complexes, both in terms of property maintenance and occupancy which compelled Freddie Mac to fund the requested loans.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.