Senior / Assisted Living
Debt & Equity

Wanda Riggs Mack closes $7.5 million loan for senior housing/LIHTC property in Clarkston, Georgia

ATLANTA, GEORGIA (October 24, 2019) – Wanda Riggs Mack and Randy Wolfe secured a $7.5 million forward commitment permanent loan for Starnes Senior Living in Clarkston, Georgia. 

Financing Details:
- NorthMarq arranged financing for the borrower, BJS Starnes Elderly LP through Freddie Mac’s TEL program. 

Producer Quote:
“We are excited to be a part of the work that the Beverly J. Searles Foundation, the Housing Development Corporation, and the Housing Authority of DeKalb County are doing to provide senior affordable housing to the residents of DeKalb County!” 

- Wanda Riggs Mack

Property Details:
- The class A 128 unit property is being developed in Clarkston, Georgia, and is located less than 1.5 miles northeast of Interstate 285, allowing excellent access to the greater Atlanta metropolitan area.
- Starnes Senior Living is designed around a central courtyard with an amenity package that includes a business center, exercise facility, and recreation areas.

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.

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Starnes Senior Living
Permanent Loan - Fixed
$7,500,000