NorthMarq secures $62.6 million bridge loan for The Estates at Crossroads in Duluth, Georgia
ORLANDO, FLORIDA (July 20, 2021) – NorthMarq’s Orlando office collaborated with NorthMarq’s Tampa office to arrange the $62.6 million bridge loan for The Estates at Crossroads. The 344-unit multifamily property, built in 2002, is located at 2620 North Berkeley Road North West in Duluth, Georgia. The Estates at Crossroads features a desirable tenant base employed by a mix of industries. The property is in excellent condition but there is room for renovations and rent bumps, a perfect mix for this true value-add investment.
The transaction was structured with a 5-year interest-only term. NorthMarq arranged financing for the borrower through their relationship with a bridge/mezzanine lender
Community amenities include: Resort-style pool; white-on-white-appliances; sundeck with grilling area; spacious resident clubhouse; billiards table; pet friendly; dog park; tennis court; fitness center; business center; nearby nature trail; playground; detached garages and access controlled gates. Apartment amenities include: Stainless steel appliances; custom cabinetry; breakfast bar; double vanity sinks; garden tubs; full-size washer and dryer; ceramic tile flooring; 9’ ceilings; spacious closets.
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.
