NorthMarq Capital Arranged $14.312 Million Mortgage for Alta Surf Apartments in Myrtle Beach, SC
Todd Crouse, senior vice president and senior director, and Brett Mason, Assistant Vice President, of NorthMarq’s Raleigh Regional office, arranged acquisition financing of $14.312 million for Alta Surf Apartments, a 216-unit market-rate multifamily community located at 101 Breakers Drive in Myrtle Beach, South Carolina. Financing was based on a 10-year term and a 30-year amortization schedule. The loan was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender.
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, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.