Multifamily - Debt

NorthMarq Capital

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.”

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.