Connect Media > Florida News > North Florida > NorthMarq Arranges $271M Refinancing for Jacksonville MF Portfolio

December 15, 2020 Comments Off on NorthMarq Arranges $271M Refinancing for Jacksonville MF Portfolio Views: 751 Florida News, North Florida, Top Florida

NorthMarq Arranges $271M Refinancing for Jacksonville MF Portfolio

Order Reprints...

NorthMarq has arranged a $270.5 million cash-out refinance of a five-property, class A multifamily portfolio in Jacksonville.

The transaction consisted of a total of 1,604 units. The properties consist of Alaqua, a 218-unit property at 13490 Gran Bay Pkwy built in 2016; Cabana Club, a 252-unit property at 8680 Baymeadows Road East built in 2012; Galleria Club, a 254-unit property at 8680 Baymeadows Road East built in 2015; Palm Bay Club, a 416-unit community at 13050 Gran Bay Pkwy built in 2017 and Luxor Club, a 464-unit property at 13800 Egrets Next Drive built in 2019.

NorthMarq arranged financing on behalf of the borrower, Fort Family Investments, through its Optigo status as a Freddie Mac lender and was able to lock in an interest rate of 2.7% for all properties. Fort Family Investments has locally owned and managed multifamily communities in Jacksonville, Florida since 1972.

Connect With Fort Family Investments

Connect With NorthMarq

Subscribe to Connect Daily National

For comments, questions or concerns, please contact David Cohen

Tags: ,

Comments are closed.