NorthMarq Capital’s Atlanta office arranges both a Joint Venture and a Credit Enhancement for a senior housing development
JV/Credit Enhancement
ATLANTA (May 3, 2016) – Will James, vice president of NorthMarq Capital’s Atlanta-based regional office, secured a Joint Venture and Credit Enhancement for The Arbor Terrace at Burnt Hickory, a 92-bed senior housing development. NorthMarq represented the land owner, Hollander Properties, in arranging a Credit Enhancement and Joint Venture Sponsor to construct the senior housing property located on Burnt Hickory Road near the Kennesaw Mountain State Park and Marietta, Georgia. “The location is only 1.5 miles west of the Marietta Town Square and will bring new senior housing to a market that has not seen new units in over 10 years,” said James. “The strong retiree demographics and lack of new product proved to be strong drivers of interest in the site.” The location and lack of new supply will make this project a great success for the The Aspire Development Partners and Hollander team. The building will be operated by The Arbor Company and constructed by Choate Construction with a target completion of March 2017.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.