NorthMarq arranges $22.6 million mortgage for Lincoln Pointe Apartments on Williams Island, Aventura, Florida
WASHINGTON, D.C. (February 13, 2013) – Gary McGlynn and Kenneth Gentzel of NorthMarq’s Washington, D.C. regional office, arranged acquisition financing of $22.6 million for Lincoln Pointe Apartments, a 285-unit market-rate multifamily community located on Williams Island in Aventura, Florida. Financing was full term interest only and was arranged for the borrower, a major state pension fund controlled entity, by NorthMarq through its relationship with a correspondent life company lender. “This property is a class "A", fully stabilized Core asset with additional upside via the redevelopment associated with additional FAR,” said McGlynn.
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