Student Housing - Debt

NorthMarq’s Tampa office secures $6,035,000 refinance of student housing property located in Milledgeville, Georgia

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.

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.