ATLANTA (Nov. 14, 2023) — Northmarq’s Randy Wolfe
, senior vice president and managing director, has finalized a $13.75 million loan for MidCity Placemakers Retail, 82,669 sq. ft. of retail space within the MidCity District, a nationally acclaimed mixed-use district. Northmarq arranged financing for the borrower through its relationship with a life insurance company correspondent. The permanent fixed rate loan was structured on a 30-year term.
“This loan refinanced the original construction financing, and the borrower was pleased to be able to lock the interest rate prior to recent market increases,” said Wolfe.
Located in the gateway of Redstone Arsenal and Cummings Research Park, the MidCity District is surrounded by over 80,000 government and contract employees and offers a mix of live, work and play. At the heart of Tennessee Valley’s high-tech employment center, MidCity District also includes a 40-acre public park, with biking and running trails and Top Golf. The 140-acre mixed-use district offers residents and visitors over 350,000 sq. ft. of retail, dining and entertainment. The Placemakers Retail space includes tenants such as Dave & Busters, REI Outdoors, High Point Climbing and Wahlburgers.
Learn more about Northmarq’s financing services here.