Northmarq’s Atlanta office facilitates $31.5 million refinance of 250-unit multifamily community in Decatur, GA

DECATUR, Ga. (Jan. 24, 2025) — Northmarq’s Atlanta Debt + Equity team led by Faron Thompson and Van Glosson successfully secured the $31.5 million internal refinance of Paces Park, a 250-unit multifamily housing property in Decatur, Georgia.

Northmarq arranged the permanent-fixed financing on behalf of the borrower, Inwood Holdings LLC, through a correspondent relationship with Freddie Mac. The transaction was structured on a 5-year term.

“Freddie Mac once again pulled out all the stops for this multi-loan repeat select sponsor, making it very easy to refinance with Freddie Mac,” Thompson said.

Paces Park features one-, two- and three-bedroom apartment homes with options for upgraded luxury plank flooring, stainless steel appliances, granite countertops, white shaker cabinets, a balcony, fireplace and garden tub.

Community amenities include a resort-style pool, fitness center, laundry care center, FETCH package retrieving, cyber lounge and conference room, free weights, a gated community and on-site maintenance. Paces Park is a pet-friendly facility with a max of two pets per unit.

Located eight miles northeast of downtown Atlanta, Paces Park is conveniently located near U.S. Highway 78 and boasts close proximity to food options, movie theaters, shops and services, nightlife, parks, healthcare facilities and more.