NorthMarq Capital’s Miami office arranges $2 million refinance of Azure Villas in Miami Springs, Florida
Azure Villas
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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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.
