Multifamily - Debt

NorthMarq’s Orlando and Tampa offices provide acquisition financing of $46,800,000 for multifamily property in Tallahassee, Florida

ORLANDO, FLORIDA (January 21, 2021) – Melissa Marcolini Quinn, managing director of NorthMarq’s Orlando-based regional office and Lee Weaver, managing director of NorthMarq’s Tampa office, secured acquisition financing of $46,800,000 for Evergreens at Mahan, a 412-unit multifamily property located in Tallahassee, Florida. The transaction was structured with a 10-year term with 5-years of interest-only followed by a 30-year amortization schedule. NorthMarq arranged the financing on behalf of the borrower through its in-house Fannie Mae DUS platform. 

“This is a great asset and a perfect addition to our client’s portfolio. All parties worked together in sync to get this acquisition closed with attractive Fannie Mae financing,” said Marcolini Quinn.

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 $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.