ATLANTA (July 10, 2014) – Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta based regional office arranged acquisition financing for two multifamily properties: Legacy Apartment Homes in Brunswick, and Hampton Place Apartments in Perry. Both transactions, financed with the FHA 223f loan product, were closed thanks to AmeriSphere obtaining FHA approval in an unusually quick timeframe.
“The property seller and buyer, as well as AmeriSphere, NorthMarq and HUD worked efficiently and quickly to close these transactions in the time frame required under the purchase and sale contract,” said Mack. “AmeriSphere agreed to try to secure not one, but two deals with HUD in an unprecedented timeframe with a borrower that was new to HUD.”
Legacy at Brunswick: 168-unit multifamily property, located at 101 Legacy Way, Brunswick, Georgia.
Hampton Place: 152-unit multifamily property, located at 395 North Perry Parkway in Perry, Georgia.