NorthMarq’s Atlanta office negotiates preferred equity for $43.236 million construction loan of multifamily property in Decatur, Georgia

Multifamily Property
Debt & Equity
Multi-Tenant
Multifamily
Construction Loan
Bank
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ATLANTA, GEORGIA (October 5, 2020) – NorthMarq's Atlanta office originated preferred equity and advised the client on senior financing both equaling $43,236,000 (85% of the capital stack) needed to start construction of a 240-unit multifamily property. The project will be located at 3360 Mountain Drive in Decatur, Georgia. The transaction was structured with a 3-year interest-only term. NorthMarq arranged the financings for the borrower through its relationship with a regional bank. 

The client's unique project design and unit mix proved compelling to provide a cost basis well under nearby competing projects either recently started or just announced. This asset will be one of only three Fee Simple projects along Marta's east line that are Transit Oriented, not on leased Marta land and sharing a stop light entrance to the Marta Station. 

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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.
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