Written by Cameron Lewis | COSTAR
Somerstone secured a $10 million mortgage for its multifamily community at 7139 Winding Cedar Trail in Charlotte, NC.
Vice president of NorthMarq Kevin Jenkins arranged the financing, which was based on a 10-year term and a 30-year amortization schedule.
Built in 1983, the multifamily property features 360 units, 634 parking spaces, high ceilings, and a gym facility. Somerstone acquired the complex in 2011 for $8.28 million, according to CoStar information.