Northmarq’s Debt + Equity team arranges $23.76M new construction loan for Sarasota Station apartments

Sarasota Station Apts
202-unit planned multifamily community

SARASOTA, Fla. — Northmarq’s Debt + Equity team led by Michael Padilla and Daniel Trebil of Minneapolis and Robert Hernandez of Tampa successfully arranged the $23,763,863 new construction loan for Sarasota Station, a 202-unit planned mid-rise apartment community located at 2211 Fruitville Rd. in Sarasota, Florida.

Northmarq arranged financing on behalf of the borrower, Sarasota Station LLC, through a relationship with Synovus. The transaction was structured on a five-year term.

“It was a pleasure and an honor to be part of the development of Sarasota Station,” Padilla said.

Sarasota Station will be a multifamily mixed-use development themed after the historic Suncoast Sarasota Railroad. The community will feature studio-, one- and two-bedroom apartments and will sit on 7.8 acres of land.

Property amenities include a clubhouse, basketball court, dog park, business and community center, legacy trail connector, on-site property manager and maintenance personnel. 

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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.
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