REBusinessOnline

NorthMarq Arranges $6.1M Acquisition Loan for Affordable Housing Community in Metro Nashville

Abbington at Stones River is a 96-unit affordable housing community located at 1335 Bradyville Pike in Murfreesboro, Tenn.

MURFREESBORO, TENN. — NorthMarq Capital has arranged a $6.1 million acquisition loan for Abbington at Stones River, a 96-unit affordable housing community located at 1335 Bradyville Pike in Murfreesboro, a suburb of Nashville. John Reed of NorthMarq’s Omaha office arranged the 18-year loan with two years of interest-only payments followed by a 35-year amortization schedule. The loan was financed through Freddie Mac’s Tax-Exempt Loan program and includes a facility for a moderate rehab of the property.

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