TAMPA (April 22, 2014) – Larry Curry, senior vice president of NorthMarq Capital’s Tampa based regional office secured a $30 million construction loan for Boulevard Apartments, a 260-unit multifamily property located at 2098 Seminole Blvd, Largo, Florida. The transaction was structured with a 3-year term, Interest Only plus two year extension with a 30-year amortization. The loan was arranged for the borrower, Dockside Investors, LLC by NorthMarq through its relationship with a national bank. The development will feature Club Style amenities including: elevator buildings, expanded fitness facilities, indoor lap pool/spas, nature trails, pet park and concierge services—all tailored to active lifestyles. All residential units have nine foot ceilings and eight foot entry doors, wood cabinetry and granite counter surfaces. “The borrower is also focusing on developing several other in-fill locations, with high professional employment, with Class A multifamily properties,” said Curry.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
