Multifamily - Debt

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

ORLANDO, FLORIDA (March 20, 2020) – 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.

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. 

 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.