Multifamily - Debt

NorthMarq secures $4.25 million permanent loan for affordable housing community in Pensacola, Florida

ORLANDO, FLORIDA (March 20, 2020) – NorthMarq’s Orlando-based regional office secured a $4,250,000 forward commitment for the permanent financing of Brownsville Manor, an 88-unit affordable housing community in Pensacola, Florida. The property is being developed using federal Low-Income Housing Tax Credits (LIHTC). NorthMarq arranged financing for the borrower, The Paces Foundation, through its relationship with Freddie Mac. 

The permanent-fixed loan was structured with a 17-year term followed by a 35-year amortization schedule, using Freddie Mac’s Unfunded Forward Commitment loan product. NorthMarq coordinated the construction financing through US Bank.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.