NorthMarq Capital arranges $9 million acquisition/development financing for 144.82 acre single family lot development in Fuquay-Varina, North Carolina
Single Family Lot Development
ATLANTA (October 16, 2017) – Bert Roberds and Randy Wolfe, of NorthMarq Capital’s Atlanta regional office, arranged acquisition/development financing for Meadowbrook, a single family lot development located on 144.82 acres in Fuquay-Varina, a bedroom community of Raleigh, North Carolina. The $9 million revolving line of credit was structured with a 36-month interest only term. One important feature of the loan is that it does not require all of the project’s equity to be contributed up front. NorthMarq arranged financing for Blake Investment Partners through its relationship with a national bank. “Meadowbrook will be a successful venture for this experienced developer,” said Roberds. “We were pleased to be able to structure a revolving line that will help our client in achieving their business plan while maximizing returns for their investors.”
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.