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.