Atlanta & Southeast + Southeast + Finance | March 14, 2023

Northmarq has finalized the $14-million financing of Madison Plaza, a Class A- retail property located at 930 Old Monrovia Road in Huntsville, AL.

Northmarq Structures $14M Financing for Madison Plaza in Huntsville

Northmarq’s Atlanta-based debt/equity team has finalized the $14-million financing of Madison Plaza, a Class A- retail property located at 930 Old Monrovia Road in Huntsville, AL.

Randy Wolfe of Northmarq, a full-service capital markets resource for commercial real estate investors, structured with a 10-year term with one year of interest only on a 25-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a regional credit union.

The 153,739-square-foot Madison Plaza was built in 1984 and last renovated in 2016. The property is situated adjacent to the borrower’s Mid-City District mixed-use development. Tenants at the property include Havertys, Stars and Strikes, State Farm, Dragon Alley and Viet Huong.

“Our lender showed a great deal of flexibility by accommodating the property’s transference into the specially zoned Mid-City District with its related PID and POA entities,” said Wolfe.

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Northmarq's Wolfe

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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