NorthMarq Capital arranges acquisition financing of $6.84 million for Village West Apartments in Auburn, Alabama
ATLANTA (August 2, 2018) – Wanda Riggs Mack, vice president of NorthMarq Capital’s Atlanta regional office, arranged acquisition financing of $6,840,000 for Village West Apartments, a 160-unit multifamily property located in Auburn, Alabama. The transaction structure provided for a 10-year term, utilizing a 30-year amortization schedule after a five-year interest only period. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
“It’s always encouraging when a borrower is confident enough in your services to ask for your assistance (yet again) for a new transaction. Also, the borrower requested a specific time frame for closing,” said Mack. “We were able to accommodate their requested closing date due to the efforts and coordination of the borrower and the Northmarq Freddie team. Ultimately, we were also able to provide more in loan proceeds than originally requested.”
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.
