NorthMarq Capital arranges $19.5 million acquisition financing for the Catalyst Student Apartments located in Tallahassee, Florida
Catalyst Student Apts
CHICAGO (November 5, 2013) – Sue Blumberg, Vice President of NorthMarq’s Chicago regional office, arranged acquisition financing of $19.5 million for the Catalyst Student Apartments. The student housing property is located at 631 W. Madison Street, Tallahassee, Florida, and contains 130 units and 402 beds. Catalyst Student Apartments is a newly constructed class A student housing project that is 100% occupied for the 2013-2014 school year. The property is within easy walking distance of Florida State University and offers a full amenities package including an outdoor pool. Financing was based on a 7-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a life insurance company. “The property is beautiful with a prime location just off campus,” said Blumberg. “Students these days are lucky to be able to live in such nice apartments—the builder, owner and Management Company are top of the line.”
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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.
