Multifamily - Debt

NorthMarq arranges $31,360,000 acquisition financing for multifamily property in Tallahassee, Florida

ORLANDO, FLORIDA (March 26, 2021) – Lee Weaver, managing director of NorthMarq’s Tampa office and Melissa Marcolini Quinn, managing director of NorthMarq’s Orlando office, collaborated to arrange $31.36 million in acquisition financing for Lullwater at Blair Stone for Carter Exchange. The 244-unit, garden style conventional multifamily property, built in 2020, is located at 3501 South Blair Stone Road in Tallahassee, Florida 

“We are thrilled that we were able to complete this financing within three weeks from application to closing, with a full-term interest only structure,” said Marcolini Quinn. “The asset is top quality and will be an excellent long-term investment for our client.”

NorthMarq arranged the permanent-fixed rate loan for a repeat Delaware Statutory Trust structured borrower through its relationship with a multinational bank. 

Located in the Southwood area of Tallahassee, Florida, the property benefits from close proximity to the area’s best shopping, dining and entertainment. Apartment homes feature the most coveted amenities, including granite counters, a sunroom, generous walk-in closets, built in computer nooks with attached & detached garages available to some units. Community amenities include a state-of-the-art fitness center, clubhouse with resident lounge, resort-style pool, bark park and car care center. 

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.