NorthMarq Capital arranges $9.9 million equity investment for the construction of 276 unit multifamily property in Baton Rouge, Louisiana
Tapestry at Long Farm
ATLANTA (October 20, 2015) – Will James, vice president of NorthMarq Capital’s Atlanta based office secured a $9.9 million equity investment for the construction of Tapestry at Long Farm, a 276 unit multifamily property to be located in Baton Rouge, Louisiana. The project is the first project to be constructed in the MSA since 2008. "Macro level economic generators including a new 800 employee IBM office complex downtown, port expansion projects in response to the widening of the Panama Canal, and local infrastructure investments of over $1 billion were the elements the institutional opportunity fund recognized as reasons to invest in this tertiary market," said James, who represented the developer in sourcing this relationship. “This marks the second investment between the developer and the institutional fund, and it will likely expand to future projects.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.