NorthMarq’s Jacksonville office arranges $6,649,000 refinance of Stonecrest Apartments Phase III in Gaffney, South Carolina
JACKSONVILLE, FLORIDA – Ryan Whitaker secured the $6,649,000 refinance of Stonecrest Apartments Phase III in Gaffney, South Carolina.
Financing Details:
- 10-year term (with 2-years of interest only payments)
- 30-year amortization schedule
- NorthMarq arranged the permanent-fixed loan through its relationship with Freddie Mac.
Producer Quote:
“This was a complex transaction. The collateral is considered a Phase III development that added another 110-units to the project. This brought the total up to 308-units across three phases with cross access easements and permanent reciprocal use agreements for all phases with three separate lenders.”
- Ryan Whitaker
Property Details:
- The property is located at 102 Stonecrest Lane in Gaffney, South Carolina.
- 110-units
- Apartment amenities include: High speed internet access, smoke-free, sunroom, walk-in closets, air conditioning, wheelchair accessible, vaulted ceiling and balcony. Community amenities include: Laundry facilities, 24-hour access, grill, pool, maintenance on-site, storage space, fitness center, media center/movie theatre.
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.
