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, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
