Multifamily
Debt & Equity

NorthMarq arranges $25.3 acquisition financing for multifamily property in Burlington, North Carolina

TAMPA, FLORIDA (April 20, 2020) – NorthMarq’s Orlando and Tampa offices collaborated to arrange $25.3 million in acquisition financing for Retreat at the Park for Carter Exchange (a Carter Funds company). The 249-unit, three-story conventional multifamily property, built in two phases during 2015 and 2017, is located at 122 Retreat Lane in Burlington, North Carolina. 

The transaction was structured with a 10-year term with 5-years of interest-only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its in-house Fannie Mae DUS platform.

Located in North Carolina’s Piedmont Triad, the property benefits from close proximity to Alamance Crossing, Davison Park and Elon University. Located within an award-winning school district, it includes a strong amenity package: 24/7 emergency maintenance, designer-lighting packages, energy efficient appliances, modern chef-inspired kitchens, private patio/balcony, 9-foot ceilings, walk-in closets, modern cabinetry, washer/dryer connections and a pet-friendly policy (and pet care). Property amenities include: conference room with Starbucks coffee bar, large resort-inspired saltwater pool, surface lot parking, fitness center, game lounge, resident signature service program, outdoor entertainment fireplace and a clubhouse. 

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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Retreat at the Park
Permanent Loan - Fixed
$25,300,000