NorthMarq secures $6 million bridge loan for acquisition of Sandpiper Apartments in Birmingham, Alabama
Sandpiper Apts
ATLANTA, GEORGIA (February 19, 2019) – Wanda Riggs Mack, vice president of NorthMarq’s Atlanta regional office, arranged acquisition financing of $6 million for Sandpiper Apartments, a 113-unit multifamily property located at 741 Barcelona Court in Birmingham, Alabama. The bridge loan was structured with a 3-year interest-only term. NorthMarq arranged financing for the borrower through its relationship with a bridge/mezzanine lender.
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.