NorthMarq Capital’s Atlanta office secures $10 million refinance of Marsh Cove and Somerset in Fernandina Beach, Florida
ATLANTA (January 31, 2018) – Randy Wolfe, managing director of NorthMarq Capital’s Atlanta regional office, arranged refinancing of $10,000,000 for Marsh Cove & Somerset, a 166-unit multifamily property located in Fernandina Beach, Florida. Marsh Cove & Somerset is perfectly located, offering island living on the marsh front at competitive rental rates. This transaction was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Fannie Mae utilizing pricing savings from their Green Rewards program.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
