NorthMarq arranges $22.6 million mortgage for Lincoln Pointe Apartments on Williams Island, Aventura, Florida
Lincoln Pointe Apts
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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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.
