Northmarq arranges permanent loan financing of $55.275 million for Northview student housing in Oviedo, Florida
ORLANDO, FLORIDA (August 2, 2018) – Northmarq's Orlando and Tampa office collaborated to arrange permanent loan financing of $55,275,000 for the Northview student housing project adjacent to the University of Central Florida. The property has 180-units with 600-beds. The transaction was structured with a 12-year term on a 25-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with a regional bank.
“This purchase and restructuring of the tax exempt bond issue greatly reduced the interest rate and improved the terms of the overall deal. Northview is one of the nicest student housing projects in the entire country and this financing will further help the school and the non-profit owners of this project."
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
