RALEIGH, NC – Brett Mason, vice president of NorthMarq’s Raleighoffice, arranged $25,850,000 acquisition financing for Foxcroft Apartments, located at 545 Ashley Court, Chapel Hill, NC. The conventional market apartments hold 248 units. Financing was based on a 3-year term with interest only. The loan was arranged for the borrower, Eller Capital Partners, by NorthMarq through its relationship with Latitude Management Real Estate Investors.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, manyplatforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.