Senior Housing - Debt

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.