NorthMarq Capital’s Miami office arranges $2 million refinance of Azure Villas in Miami Springs, Florida
MIAMI (August 10, 2016) – Bob Harrington, vice president of NorthMarq Capital’s Miami-based regional office arranged the $2 million refinance of Azure Villas, a 23-unit multifamily property located at 200 Azure Way in Miami Springs, Florida. The transaction was structured with a 10-year term and 30-year amortization. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae DUS program. “This property had recently undergone a major renovation. The lender was able to return a significant portion of the borrower's equity, at a fixed sub-four percent interest rate,” said Harrington.
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