Student Housing - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa office arranges permanent loan of $6.375 million for acquisition of student housing near FSU in Tallahassee, Florida

TAMPA (January 22, 2018) – Lee Weaver, senior vice president/senior director of NorthMarq Capital’s Tampa regional office, arranged a permanent loan of $6.375 million for five two-story student properties consisting of a total of 111 beds located near Florida State University in Tallahassee, Florida. The transaction was structured with a 12-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae platform. “Fannie stepped up on this scattered site deal,” explained Weaver. “The properties proximity to campus and strong historical performance made this an attractive opportunity for both the lender and the borrower.”

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.