NorthMarq’s Atlanta office negotiates $23,431,100 construction permanent loan for Odyssey at Laurel Island
Odyssey at Laurel Island
ATLANTA, GEORGIA (May 28, 2020) – The NorthMarq Atlanta Debt & Equity team arranged construction permanent financing of $23,431,100 for Odyssey at Laurel Island. The 192-unit multifamily property will be located in Kingsland, Georgia. This transaction is structured with a 40-year term on a 40-year amortization schedule. NorthMarq arranged this FHA 221D-4 financing for the borrower, an affiliate of Alexander Properties Group of Atlanta and David Berkman of Amelia Island.
The site is located in Camden County between Kingsland and St. Mary's. Two major economic drivers for this area are Spaceport Camden and the Naval Submarine Base Kings Bay.
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.