Northmarq arranges $28.95 million refinance of Arlington West Apartments in Jacksonville, North Carolina

Arlington West Apts
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Freddie Mac
7324b1d8-c4af-4f1a-a04e-f6cf346f3b29.jpg

MIAMI LAKES, FLORIDA (June 8, 2022) – Bob Harrington, vice president in Northmarq’s Miami Lakes debt/equity office, secured the $28.95 million refinance of Arlington West Apartments. The 14-building/324-unit multifamily property (built in 2009) is located at 5049 Western Boulevard in Jacksonville, North Carolina. It features a resort-style saltwater swimming pool, playground, two dog parks, fitness center, game room, business center and numerous other amenities.

The transaction was structured with a 10-year interest-only term. Northmarq arranged financing for the borrower through its Optigo status as a Freddie Mac lender. 

“This was another great Freddie Mac refinance for our repeat client,” said Harrington. “They took advantage of Freddie’s Index Lock option to lock in the 10 Yr UST at 1.89 percent. This allowed them to close with a fixed interest rate in the mid three percent range, and full-term interest-only.

View Available Multifamily Listings

Meet our team

About Northmarq 
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
Transactions

Related Transactions

Explore all transactions
NM Web Icon News Black

Stay on top of industry research

Subscribe