Northmarq arranges $55 million refinancing of 379-unit multifamily property in Charlotte
CHARLOTTE, N.C. (Sept. 12, 2024) — Northmarq’s Debt + Equity team of Ernest DesRochers and Dylan Hamer based in New York has secured the $55 million external refinance of Lincoln at Dilworth, a 379-unit multifamily property in Charlotte, North Carolina. Built in 2018 and located at 905 Kenilworth Ave., Lincoln at Dilworth is conveniently located near Uptown Charlotte and balances neighborhood tranquility with easy access to the heart of Center City.
Northmarq arranged financing on behalf of the borrower, Lincoln Ventures LLC, through a correspondent relationship with Lincoln Financial Group. The permanent fixed loan was structured on a 4-year term.
“Lincoln Financial Group showed strong interest in this deal from the beginning based on the property’s excellent location in the Dilworth section of Charlotte, as well as their confidence in the borrower’s business plan and continued investment at the property,” DesRochers and Hamer said. “Lincoln Financial was able to meet the borrower’s requested loan request with competitive terms. All parties did an exceptional job to get this loan closed within 60 days.”
Lincoln at Dilworth features studio, one- and two-bedroom units with quartz countertops, stainless steel appliances, tile backsplashes, wood-style flooring, Nest programmable thermostats, and options for a private patio or balcony, spacious walk-in closets, built-in desks, kitchen islands and dual vanities.
Residents have access to a rooftop lounge with stunning skyline views, a resort-style pool with aqua sundeck, a two-story fitness center, concierge services, a pet spa and bark yard, game room, covered outdoor kitchen/bar and TV lounge, bike racks and a bike repair shop, gated, covered parking, and a package concierge.
The property boasts close proximity to arts, shopping, outdoor activities, restaurants and entertainment. Residents will be within a short distance of four museums, Bank of America Stadium, Spectrum Center, Freedom Park and Elizabeth Park.
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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 more than $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.
