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Southwood Scores $16.5M Loan for Gastonia Multifamily

NorthMarq Arranges 10-Year Mortgage
January 24, 2013
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.
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