Northmarq arranges construction financing of $17.4 million for University Grande at Southeastern Louisiana University
ORLANDO, FLORIDA (July 25, 2018) – Northmarq's Orlando office and Northmarq's Tampa office arranged construction financing of $17,400,000 for the first purpose-built student housing project in the Southeastern Louisiana University market. The property will have 156-units with 480-beds. The transaction was structured with a 3-year interest only term. Northmarq arranged financing for the borrower through its relationship with a regional bank.
“This was a challenging deal that was made easier by a quality sponsor/borrower, who is also a very experienced general contractor."
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
