Multifamily - Debt

NorthMarq Capital arranged $62.09 million in combined mortgages for three multifamily properties in South Florida

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.

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.