Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranges bridge financing of $12.74 million for Signature Place Apartments in Greenville, North Carolina

(October 8, 2018) – Lee Weaver, senior vice president of NorthMarq Capital’s Tampa regional office, and Melissa Quinn, managing director of NorthMarq Capital’s Orlando regional office, arranged bridge financing of $12,740,000 for Signature Place Apartments, a 171-unit multifamily property located at 410 Beasley Drive, Greenville, North Carolina. The transaction was structured with a 3-year interest only term. NorthMarq arranged financing for the borrower through its relationship with Benefit Street, a private lender. 

“Benefit Street went above and beyond, dedicating time, resources and personnel to get the loan closed in 30 days,” said Weaver.

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.