NorthMarq Capital’s Atlanta office arranges acquisition financing of $6,450,000 for Kensington Place in Greensboro, North Carolina
Kensington Place
ATLANTA (October 14, 2016) – Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta-based regional office, arranged acquisition financing of $6,450,000 for Kensington Place, a 128-unit multifamily property located at 3844 Battleground Avenue in Greensboro, North Carolina. The transaction was structured with a 15-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, a limited liability company with Arcan Capital as the sponsor, through its Fannie Mae DUS program. Arcan Capital not only acquired the property, but will manage it as well.
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.