NorthMarq Capital's Tampa and Dallas offices arrange $38 million mortgage for Parrot's Landing in North Lauderdale, Florida
Parrot's Landing
TAMPA (January 8, 2012) – Alison Williams, assistant vice president of NorthMarq’s Tampa regional office, and Stephen Whitehead, senior vice president and senior director of NorthMarq’s Dallas regional office, cooperated to arrange acquisition financing of $38 million for Parrot’s Landing. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company. Parrot’s Landing is an institutional-quality, 560-unit market-rate rental community situated on a 29.5 acre site in North Lauderdale, Florida. Constructed in two phases in 1987 and 1997, the property consists of one, two and three bedroom units and features community amenities including two clubhouses, three swimming pools, sundeck, fitness center, lighted tennis court, car care center, barbecue area, covered picnic area, business center and jogging trails. The property was purchased by a highly regarded Toronto-based private real estate investment company.
About Northmarq
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.
