NorthMarq closes $12 million A&D loan for Smith Village in Troutman, North Carolina
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.
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.
