NorthMarq Capital arranges $19.5 million acquisition financing for the Catalyst Student Apartments located in Tallahassee, Florida

CHICAGO (November 5, 2013) – Sue Blumberg, Vice President of NorthMarq’s Chicago regional office, arranged acquisition financing of $19.5 million for the Catalyst Student Apartments. The student housing property is located at 631 W. Madison Street, Tallahassee, Florida, and contains 130 units and 402 beds. Catalyst Student Apartments is a newly constructed class A student housing project that is 100% occupied for the 2013-2014 school year. The property is within easy walking distance of Florida State University and offers a full amenities package including an outdoor pool. Financing was based on a 7-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a life insurance company. “The property is beautiful with a prime location just off campus,” said Blumberg. “Students these days are lucky to be able to live in such nice apartments—the builder, owner and Management Company are top of the line.”