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.