Multifamily - Debt

NorthMarq’s Orlando office arranges acquisition financing of $8,215,000 for Atlantica Apartments in Jacksonville, Florida

ORLANDO, FLORIDA (June 14, 2019) – Melissa Marcolini-Quinn, senior vice president/managing director and Omar Vanjaria, vice president of 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,” said Marcolini-Quinn. 

This transaction was featured in Multi-Housin News 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.