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