Southwood Realty Co. Inc. secured first mortgage refinancing of $16.5 million for its 240-unit multifamily complex in Gastonia, NC.
Bill Matone of NorthMarq Capital arranged the loan based on a 10-year term and a 25-year amortization schedule.
Built in 2006, The Village of Ballantyne is a 997,112-square-foot community at 2380 Ballantyne Drive. The property is about 22 miles west of Charlotte.
Southwood Realty is a Gastonia-based property management firm with 71 apartment properties throughout the southeast.
NorthMarq is a commercial real estate
financial intermediary that provides mortgage banking and commercial loan servicing.