Northmarq’s Debt + Equity team arranges $36.4M refinance of Tradewinds at Hobe Sound apartments

HOBE SOUND, Fla. — Northmarq’s Philadelphia regional Debt + Equity team led by John Banas, Kris Wood, Jeffrey Steigerwalt and David Singer successfully arranged the $36.4 million refinance of Tradewinds at Hobe Sound, a 177-unit garden apartment community located at 9755 SE Federal Hwy. in Hobe Sound, Florida.

Northmarq arranged financing on behalf of the borrower, The PRC Group of Companies and PRC’s partner, Circle Squared Alternative Investments, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term with a 35-year amortization schedule.

“The team at PRC built an amazing multifamily community at Hobe Sound. It was a pleasure working with them again and providing excellent financing.” said Banas.

Opened in 2024 and featuring 9 three story residential buildings, Tradewinds at Hobe Sound offers one-, two- and three-bedroom floorplans. Units offer granite countertops in the kitchen and bathrooms, stainless steel appliances, shaker cabinets, luxury vinyl flooring, some units sport a patio or balcony, climate control, washer/dryer, nine-foot ceilings and large closets.

Community amenities include a pool, on-site management, clubhouse, business center, complimentary clubhouse Wi-Fi, garages available to lease, 24/7 on-site maintenance, fitness center, demonstration kitchen and a fenced-in dog walk area.

Tradewinds at Hobe Sound is located just north of West Palm Beach with easy access to interstate highways and an international airport. The community is strategically located a short distance from Jupiter Island public beaches and world-renowned golf courses.