Multifamily - Debt


NorthMarq announces $24.25 million acquisition loan for Princeton Parc Apartments in Melbourne, Florida

ORLANDO, FLORIDA (March 20, 2020) – Melissa Marcolini Quinn, managing director/senior vice president, and Robert Rothaug, vice president/senior investment analyst of NorthMarq’s Orlando office, arranged the acquisition loan as an Optigo® Freddie Mac lender. The property is located at 4714 Crosswind Court in Melbourne, Florida.

“This is a solid investment in a growth market. We were happy to work with Enzo Multifamily on another smooth Freddie Mac transaction,” said Marcolini Quinn. 

The mortgage features a 10-year term with 5-years of interest only, followed by a 30-year amortization schedule. The borrower was able to utilize Freddie Mac’s Index Lock program to protect against a rise in the Treasury yield during the closing process. 

 

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 $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.