NorthMarq arranges $38 million refinance of Canterbury Circle Apartments in Ocala, Florida

JACKSONVILLE, FLORIDA – Lamar Sarra, senior vice president/managing director of NorthMarq’s Jacksonville office secured the $38 million refinance of Canterbury Circle Apartments. The 3-story/304-unit multifamily property is located at 3585 SW 38th Terrace in Ocala, Florida. 

“NorthMarq's Freddie Mac team won the business due to their competitive rate and ability to index lock,” said Sarra. 

Financing Details:
- 11-year term (with 3-years of interest-only payments)
- 30-year amortization schedule
- NorthMarq arranged the permanent-fixed loan for the borrower through its in-house Freddie Mac team. 

Property Details: 
- The property, built in 2019, benefits from direct access to SR 200 and I-75 in West Ocala.
- Property amenities include: Fitness center, clubhouse, fenced dog park with agility course, covered poolside summer kitchen with 70-inch TV, custom cabinets, playground, gameroom, courtyard/balcony, grill and community-wide WiFi. 
- Apartment amenities include: Double vanity sinks, electric vehicle charging stations, garages available, granite countertops in kitchen and bathrooms, large kitchen island,  resident lounge with kitchen, coffee bar and USB outlets, smoke-free community certification, splash pad, stainless steel appliances, wood-inspired floors, package service and high speed internet access.