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.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.