Northmarq $7.85 million acquisition and development loan in Charlotte’s NoDa neighborhood
CHARLOTTE, N.C. (Oct. 17, 2024) — Mark Ebersold of Northmarq’s Charlotte Debt + Equity team secured a $7.85 million acquisition and development loan for Think Modern. This loan will facilitate the development of 33 upscale townhomes located at 1304 Commercial Ave. in the vibrant NoDa area of Charlotte, North Carolina.
The loan was arranged through Northmarq’s relationship with a regional bank. It was structured with a flexible term and floating rate, which grants the builder sufficient time to build the townhomes.
“We are excited to see the next Think Modern project evolve,” Ebersold said. “Our lender provided a quick response and flexible terms to accommodate the project’s needs. We are grateful to have supported the financing needs to this transaction.”
Located just four miles from Uptown Charlotte, Think Modern’s new development boasts a location with close access to U.S. Highway 29 and Interstates 77 and 277. NoDa features shopping, arts and culture, nightlife and entertainment, restaurant and dining options, and more.
Think Modern specializes in syndication funds, focusing on residential development projects in the Carolinas. They offer a turnkey solution that covers every step of the development process, from site selection to entitlements, ensuring seamless project execution. In addition, their full-service construction management and general contracting services provide comprehensive support, making them a reliable partner for investors. To learn more, visit www.think-modern.com.
Meet our team
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. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
