ATLANTA, GEORGIA (December 21, 2022) – Randy Wolfe, senior vice president/managing director of Northmarq’s Atlanta debt/equity team, arranged the $22.5 million refinance for Village on Whitesburg. The 118,356 sq. ft. grocery-anchored retail property is located at 4800 Whitesburg Drive Southeast, Huntsville, Alabama. The permanent-fixed loan was structured with a 7-year term with a 25-year amortization schedule.
Northmarq arranged the financing for the borrower though a commercial bank. The loan is structured at 65 percent LTV on a non-recourse basis. “The bank lender was terrific to work with holding the application rate in a rising rate environment,” said Wolfe.
Besides Fresh Market Grocery other major tenants at the property include: AT&T, Bonefish Grill, Drakes, Nadeau, Panera Bread and Learning Express.
