NorthMarq Capital’s Tampa office arranges $39.2 million permanent construction financing of Ciel Apartments in Jacksonville, Florida
Ciel Apts
TAMPA (July 11, 2017) Bob Hernandez, senior vice president/ managing director of NorthMarq Capital’s Tampa regional office, arranged permanent construction financing of $39,200,000 for Ciel Apartments, a 400-unit multifamily property in Jacksonville, Florida. The transaction was structured with a 15-year term on a 30-year amortization schedule with several year’s interest only while under construction and lease-up. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company. “The lender worked diligently with the sponsor through planning to close as soon as the permits were obtained,” said Hernandez.
About Northmarq
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.
