TAMPA (October 9, 2018) – NorthMarq Capital’s Tampa regional office and Orlando regional office collaborated to secure a $35 million construction loan and $20 million in joint venture equity for the Residences at Dania Pointe, a 260-unit multifamily property located at South Bryan Road in Dania Beach, Florida. The debt was structured with a 5-year term followed by a 25-year amortization schedule. NorthMarq arranged the debt for the borrower through its relationship with a regional bank. The joint venture equity was provided through a Florida-based investment firm.
The residences at Dania Pointe is situated in the middle of the region’s newest, open-air lifestyle community featuring more than one million square feet of retail, restaurant, office and hospitality uses.