Multifamily - Debt

NorthMarq Capital’s Atlanta office arranges $2.5 million refinance of Oak Court Apartments in Wilmington, North Carolina

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.

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.