NORTHMARQ ARRANGES $10M LOAN FOR SOMERSTONE APARTMENTS IN CHARLOTTE

CHARLOTTE, N.C. — NorthMarq Capital has arranged $10 million in first mortgage refinancing for Somerstone Apartments, a 360-unit, market-rate multifamily community located in Charlotte. Kevin Jenkins of NorthMarq Capital's Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac on behalf of the borrower, Somerstone LLC.