Multifamily
Debt & Equity

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 a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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Oak Court Apts
Debt
$2,500,000