Falls at Spring Creek, Macon, GA
SAVANNAH, GA—Carter Multifamily of Tampa has acquired a multifamily portfolio of nearly 2,000 units in Savannah, Macon, Canton and Augusta, GA for $202.5 million.
Commercial real estate capital services firm NorthMarq reports that its Orlando and Tampa offices collaborated on what it terms was a complex debt and equity financing package for the 11-property portfolio comprised of class B and C multifamily properties totaling 1,966 units. Managing Directors Melissa Marcolini-Quinn and Lee Weaver of NorthMarq's Orlando and Tampa offices respectively represented the buyer Carter Multifamily in the transaction. The seller of the portfolio was Kole Management of Savannah, GA.
The financing package consisted of six new Freddie Mac Value Add Green Advantage loans, five loan assumptions from Fannie Mae and $40 million in equity over the entire portfolio.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
