U. of Alabama Community Refinanced

NorthMarq Capital arranged a $31 million loan for Woodlands of Tuscaloosa.

Tuscaloosa, Ala. — NorthMarq Capital has arranged a $31 million first mortgage for the refinancing of a Tuscaloosa student housing community. Woodlands of Tuscaloosa is located at 100 Hargrove Road East and serves students of the University of Alabama. It contains 708 beds in 204 units. The financing, which was provided by Freddie Mac, carries a 7-year term and a 30-year amortization schedule. Bruce Foster of NorthMarq’s Atlanta office arranged the loan on behalf of the borrower, Woodlands of Tuscaloosa Phase I LLC.