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Norhaven Partners And Coro Realty Refinance The Massell In Cartersville Ga For $33M

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FINANCED
$33,000,000
Stephen Farnsworth
Hanes Dunn

Georgia

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MultiFamily
Financed 06/10/2025
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Property Image
FINANCED

Norhaven Partners And Coro Realty Refinance The Massell In Cartersville Ga For $33M

1230 Joe Frank Harris Parkway Southeast

See Similar Deals
MultiFamily
Financed 06/10/2025
Stephen Farnsworth
Hanes Dunn
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 1230 Joe Frank Harris Parkway, Cartersville, GA, featuring a total of 210 units. It has undergone refinancing to stabilize its financing in a recovering market, specifically the Atlanta multifamily market.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $33,000,000
  • Loan Type: Refinance
  • Loan Terms: five-year, non-recourse, floating-rate loan featuring full-term interest only payments
  • Landlord: Norhaven Partners & Coro Realty
  • Broker: Hanes Dunn & Stephen Farnsworth - Walker & Dunlop

This refinancing transaction was facilitated by ACRE, arranged by Walker & Dunlop, ensuring that the nearly fully occupied community can maintain its financial stability moving forward.

Players

Stephen Farnsworth
Walker & Dunlop
Stephen Farnsworth
4 deals$531.7M volume
BROKER
Hanes Dunn
Walker & Dunlop
Hanes Dunn
3 deals$339.6M volume(301) 202-3261
BROKER
Walker & Dunlop
Walker & Dunlop
BROKERAGE
CR
Coro Realty
LANDLORD

Details

FINANCED
IMAGE: 06/10/2025 ADDRESS: 1230 Joe Frank Harris Parkway MARKET: Cartersville, GA ASSET TYPE: MultiFamily ~ UNITS: 210 LANDLORD: Norhaven Partners & Coro Realty BROKERS: Hanes Dunn & Stephen Farnsworth - Walker & Dunlop LOAN AMOUNT: $33,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year, non-recourse, floating-rate loan featuring full-term interest only payments. NOTE: Norhaven Partners and Coro Realty refinanced The Massell in Cartersville, Ga., with a $33M non-recourse loan from ACRE, arranged by Walker & Dunlop. The nearly fully occupied community now has stabilized financing amid a slowly recovering Atlanta multifamily market.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$33,000,000.00

Monthly NOI$220,000.00
Monthly Debt Service$208,582.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00