NorthMarq Capital’s Miami office refinances The Atlantic at Tradition Apartments in Port St. Lucie, Florida

MIAMI (June 25, 2015) – Bill Johnson senior vice president/managing director of NorthMarq Capital’s Miami office arranged financing for The Atlantic at Tradition Apartments. This 252 unit multifamily property located at 10297 SW Village Parkway in Port St. Lucie, Florida was refinanced for $24.55 million. The transaction was structured with a 10-year term with 2-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a life insurance company. Located within the 8,300 acre master planned community; the property is in close proximity to the 150 acre Tradition Center of Innovation Research Park, the to-be-built 120 bed VA Medical Facility, I-95, the Florida Turnpike and is only 12 miles from the beaches. Community amenities include a beautifully landscaped onsite park with fountain, spacious clubhouse with social area, billiards, theatre, expansive resort-style swimming pool with sundeck and Wi-Fi, heated Jacuzzi, outdoor veranda with summer kitchen, modern 24-hour fitness centre, executive business centre with conference room and Wi-Fi, children’s outdoor play area and indoor game room, lighted tennis court, “Bark Park” with water station, and lakeside walking trail.