Multifamily - Debt

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.