Northmarq secures bridge loan for luxury garden apartments

JACKSONVILLE, Fla. — Managing Director Kevin Leamy of Northmarq’s Dallas Debt + Equity team arranged the acquisition financing for The Preserve at Island Pointe, a newly built 192-unit multifamily community in Jacksonville, Florida.

Northmarq arranged financing on behalf of the borrower, Safe Harbor Investments LLC, through a bridge lending relationship. The transaction was structured on a five-year term including extensions.

“It was a privilege to capitalize such a high-quality asset in a growing location of Jacksonville for a repeat Northmarq client,” said Leamy. “We are excited to see the client succeed with this project and continue to grow their presence in Florida.”

Located at 780 Island Point Drive, The Preserve was built in 2023 and features spacious one-, two- and three-bedroom apartment homes with open-concept layouts and stylish finishes. Each unit boasts large kitchen islands, walk-in closets, stainless steel appliances and more. Residents enjoy a resort-style pool and sundeck, resident lounge, 24-hour fitness studio and more community amenities.