Northmarq arranges $32.8M loan for Park Place active adult rental community in Lawrenceville, GA
LAWRENCEVILLE, Ga. — Northmarq’s Atlanta Debt + Equity team of Faron Thompson and Roan Thompson arranged the $32.8 million refinancing for Park Place, an active adult rental community located at 77 E. Pike St. in Lawrenceville, Georgia, approximately 30 miles northeast of downtown Atlanta.
Northmarq secured the three-year loan on behalf of the borrower, Highlands Residential, through certain investment accounts managed by HPS Investment Partners.
“We were pleased to help a repeat sponsor secure financing for this newly delivered multifamily community, which needed additional time to complete lease-up and stabilize without the significant principal paydown required by the construction lender,” said Faron Thompson.
Park Place is a 148‑unit, purpose‑built active adult (55+) rental community located in downtown Lawrenceville, Georgia, offering one‑ and two‑bedroom floorplans with an average unit size of approximately 974 square feet.
Completed in 2024, the property features a comprehensive amenity package including a 24/7 fitness center, resident lounge and social spaces, indoor and outdoor gathering areas, recreation amenities, and regularly programmed resident activities, all designed to support independent, active lifestyles.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
