NorthMarq secures $6 million bridge loan for acquisition of Sandpiper Apartments in Birmingham, Alabama
ATLANTA, GEORGIA (February 19, 2019) – Wanda Riggs Mack, vice president of NorthMarq’s Atlanta regional office, arranged acquisition financing of $6 million for Sandpiper Apartments, a 113-unit multifamily property located at 741 Barcelona Court in Birmingham, Alabama. The bridge loan was structured with a 3-year interest-only term. NorthMarq arranged financing for the borrower through its relationship with a bridge/mezzanine lender.
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.
