TAMPA, FLORIDA (September 26, 2019) – Lee Weaver, senior vice president/managing director of NorthMarq’s Tampa-based regional office arranged the $6,035,000 refinance of Boulevard Milledgeville, a newly-constructed student housing property located in Milledgeville, Georgia.
The development consists of 17 cottage-style buildings with a total of 28 units and 126 beds and is located just two blocks from the Georgia College and State University (GCSU) campus.
The permanent loan was structured with a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Fannie Mae.
“The borrower has been very successful targeting properties with irreplaceable locations,” said Weaver.