Multifamily - Debt

NorthMarq completes $3,991,000 refinance of The Lofts San Marco in Jacksonville, Florida

JACKSONVILLE, FLORIDA (January 30, 2020) – Lamar Sarra, senior vice president/managing director of NorthMarq’s Jacksonville office negotiated the $3.991 million refinance of The Lofts San Marco. The 38-unit multifamily property is located at 1450 Flagler Avenue in Jacksonville, Florida. 

Financing Details:
– 10-year term (with 5-years of interest-only payments)
– 30-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its in-house Fannie Mae team. 

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.