NorthMarq Capital arranged $62.09 million in combined mortgages for three multifamily properties in South Florida
Three Multifamily Properties
MILWAUKEE (January 10, 2013) – David Woida, vice president and managing director of NorthMarq’s Milwaukee Regional office, arranged combined first mortgage refinancings of $62.09 million for three multifamily properties containing a combined total of 926 market-rate multifamily units located in South Florida. • Waterford Landing Apartments contain 362 market-rate multifamily units and was financed at $25,245,000. Waterford Point Apartments contain 244 market-rate multifamily units and was financed at $16,595,000. These two properties are located in Miami. • Reflections of Boca Apartments contain 320 market-rate multifamily units and were financed at $20,250,000. This property is located in Boca Raton. Financing for these properties was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its seller-servicer relationship with Freddie Mac. “The lender understood the strong market fundamentals of the South Florida market and was able to close on terms that met our borrower’s expectations,” said Woida.
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.