NorthMarq secures $47,043,000 refinance of student housing property in Daytona Beach, Florida

Eagle Landing Apts

Debt & Equity

Multi-Tenant

ORLANDO, FLORIDA (April 23, 2019) – NorthMarq’s Tampa-based regional office collaborated with NorthMarq's Orlando office to arrange the $47,043,000 refinance of Eagle Landing Apartments, a 768-bed/288-unit student housing project located at 1479 Shady Place in Daytona Beach, Florida. The property benefits from its proximity to Embry-Riddle Aeronautical University, Daytona State College and Bethune Cookman University. The transaction was structured with a 10-year term with 4-years of interest-only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac.

“The sponsor builds a superior product, and though situated in a smaller college market, Eagle Landing consistently outperforms similar properties at much larger universities."

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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.