$29.6 MILLION LOAN ARRANGED FOR NORTH CAROLINA APARTMENT

KANNAPOLIS, N.C. — Joel Coykendall of NorthMarq Capital’s Jacksonville, Fla., office has secured a $29.6 million loan for the 312-unit Integra Springs Apartments in Kannapolis. The financing is a 23-month construction loan that turns into a 40-year permanent loan. AmeriSphere Mortgage Finance funded the loan, which carries a 40-year amortization schedule.