Northmarq’s Debt + Equity team secures $13.327M refinancing for North Carolina apartment community
Kings Cross Apartments
Northmarq’s Fort Lauderdale Debt + Equity team led by Bob Harrington successfully arranged the $13.327 million refinancing of Kings Cross Apartments, a 176-unit, garden-style apartment community located in Fayetteville, North Carolina.
Northmarq arranged the financing on behalf of their borrower, through its status as a Freddie Mac Optigo lender. The transaction was structured on a five-year term with two years of interest only.
Built in 1994 and renovated in 2003, the property features eight residential buildings and clubhouse. Community amenities include: a seasonal outdoor pool, heated indoor pool, 24-hour fitness center, playground, pet park, business center and 24-hour laundry facilities.
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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.
