NorthMarq Capital’s Charlotte office finalized $20,000,000 construction take-out for Palisades at Belmont in Belmont, North Carolina
Palisades at Belmont
CHARLOTTE (August 1, 2017) Bill Matone, senior vice president/managing director of NorthMarq Capital’s Charlotte and Raleigh regional offices, arranged a construction take-out loan of $20,000,000 for Palisades at Belmont, a 204-unit multifamily property located in Belmont, North Carolina. The transaction was structured with a 20-year loan term on a 20-year amortization schedule. Northmarq arranged financing for the borrower, SRC Palisades of Belmont, LLC, through its relationship with UNUM.
“We had a great experience working with the associates at UNUM. Everyone responded quickly and worked to the good of getting the deal closed. We will definitely be working with UNUM again in the future,” said Matone.
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.
