ORLANDO, FLORIDA (July 25, 2018) – Bill Hardman, from NorthMarq Capital’s Orlando regional office and NorthMarq Capital’s Tampa regional 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,” said Hardman.