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.