NorthMarq’s Orlando office arranges acquisition financing of $8,215,000 for Atlantica Apartments in Jacksonville, Florida
ORLANDO, FLORIDA (June 14, 2019) – NorthMarq’s Orlando-based regional office secured acquisition financing of $8,215,000 for Atlantica Apartments, a 100-unit multifamily property located at 2760 Mayport Road in Jacksonville, Florida. The transaction was structured with a 10-year term with 5-years of interest-only followed by a 30-year amortization schedule. NorthMarq arranged financing on behalf of the borrower through its Freddie Mac Optigo seller/servicer relationship.
“This was a great acquisition opportunity for Enzo Multifamily in an up and coming area of Jacksonville, Florida. Our sponsor saw the opportunity to implement Green improvements and increase the rents to market levels. We were able to deliver a great execution for this repeat borrower."
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
