NorthMarq closes $12 million A&D loan for Smith Village in Troutman, North Carolina
Smith Village
CHARLOTTE, NORTH CAROLINA (May 24, 2021) – Mark Ebersold, vice president in NorthMarq’s Charlotte office arranged a $12 million acquistion and development loan for Smith Village. The 68 acres of residential land will be developed into a village-style mixed-use of commercial in the front and 243 townhomes and single family lots at Highway 21 and Crosstie Lane in Troutman, North Carolina. The transaction was structured to facilitate the land acquisition and site improvements. NorthMarq arranged the 2.5-3 year A&D loan for the borrower, Prestige Corporate Development, through its relationship with an A&D lender.
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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.
