NorthMarq Capital’s Atlanta office arranges $2.5 million refinance of Oak Court Apartments in Wilmington, North Carolina
Oak Court Apts
ATLANTA (March 14, 2016) – Johnny Rankin, vice president of NorthMarq Capital’s Atlanta based regional office secured the $2.5 million refinance of Oak Court Apartments, a 33-unit multifamily property located at 251 South Kerr Avenue in Wilmington, North Carolina. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “A correspondent lender provided a low-interest, fixed-rate loan with flexible prepayment options on this market rate multifamily property near the University of North Carolina – Wilmington,” said Rankin.
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.