NorthMarq Capital arranges $37.55 million refinance of Gateway Club Apartments in Boynton Beach, Florida
MIAMI (October 5, 2014) – Bill Johnson, senior vice president/managing director of NorthMarq Capital’s Miami based regional office negotiated the $37.55 million refinance of Gateway Club Apartments, a 26 building two-story class “B” garden style rental apartment complex containing 319 one, two and three bedroom units along with a club house building. The complex is located at 3930 Max Place in Boynton Beach, Florida. The transaction was structured with a 10-year term with 2-year interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
