Multifamily - Debt

NorthMarq Capital arranges $10 million mortgage for Somerstone Apartments in Charlotte, North Carolina

CHARLOTTE (October 1, 2013) – Kevin Jenkins, vice president of NorthMarq’s Charlotte regional office, arranged first mortgage refinancing of $10 million for Somerstone Apartments, a 360-unit, market-rate multifamily community located in Charlotte, North Carolina. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Somerstone, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.