MACON, Ga. — NorthMarq has arranged a $7.7 million refinancing for Cottages on Wesleyan, a 45-unit independent living community in Macon.
The transaction was structured with a 10-year term on a 30-year amortization schedule through Fannie Mae.
Mark Ebersold, vice president of NorthMarq’s Charlotte regional office, arranged the transaction.
“The owner constructed the asset over 20 years ago, and has done an outstanding job of maintaining it as a Class A asset in the market,” says Ebersold. “The property offers its residents patio-style living with one- and two-bedroom floorplans, and it has a strong historical occupancy.”
This is the third transaction that NorthMarq has executed for the Macon-based client.