NorthMarq’s Atlanta office negotiates $23,431,100 construction permanent loan for Odyssey at Laurel Island
ATLANTA, GEORGIA (May 28, 2020) – The NorthMarq Atlanta Debt & Equity team arranged construction permanent financing of $23,431,100 for Odyssey at Laurel Island. The 192-unit multifamily property will be located in Kingsland, Georgia. This transaction is structured with a 40-year term on a 40-year amortization schedule. NorthMarq arranged this FHA 221D-4 financing for the borrower, an affiliate of Alexander Properties Group of Atlanta and David Berkman of Amelia Island.
The site is located in Camden County between Kingsland and St. Mary's. Two major economic drivers for this area are Spaceport Camden and the Naval Submarine Base Kings Bay.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
