August 28, 2013

NorthMarq Capiital arranged $5.397 million mortgage for Merriwood Apartments in Cary, North Carolina

Merriwood Apts

Debt & Equity

Multi-Tenant

RALEIGH (August 28, 2013) – Todd Crouse, senior vice president and senior director of NorthMarq’s Raleigh regional office, arranged first mortgage refinancing of $5.397 million for Merriwood Apartments, a 152-unit, market-rate multifamily property located at 100-A Merriwood Drive in Cary, North Carolina. Financing was based on a 10-year term and a 30-year amortization schedule. The loan was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender. The lender provided these funds not only to refinance the current debt but to also complete certain improvements and renovations.

Available Multifamily properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.