NorthMarq negotiates $6.6 million refinancing of Joiner Crossing Apartments in Augusta, Georgia
ATLANTA, GEORGIA (October 5, 2020) – NorthMarq’s Atlanta office arranged the $6.6 million refinancing of Joiner Crossing Apartments. The 85-unit multifamily property is located at 603 Katherine St, Grovetown, Georgia. The transaction was structured with a 10-year term with 2-years of interest-only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its status as a Freddie Mac Optigo lender. The prepayment was open the last two years of the loan to be coterminus with the Freddie Mac loan on Phase I that NorthMarq originated two years ago.
The 2-story property was built in 2017. It is in close proximity to three colleges, three shopping centers and Minnick and Lake Olmstead Park. Amenities include: washer/dryer in unit, air conditioning, heating, ceiling fans, smoke free, cable ready, storage units, tub/shower, framed mirrors, walk-in closets, and a pet-friendly policy.
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.
