March 26, 2020
NorthMarq’s Orlando-based office secured acquisition financing of $41,210,000 for The Bentley at Maitland, a 324-unit multifamily property located in Orlando. The transaction was structured with a 10-year term with 5-years of interest only, followed by a 30-year amortization schedule.
NorthMarq’s Melissa Marcolini Quinn, and Robert Rothaug secured acquisition financing for the borrower, Enzo Multifamily and Moneil Investments, through Freddie Mac’s Green Advantage program.
Marcolini Quinn says, “[The borrower was] attracted to the excellent market fundamentals of Orlando, and jumped on the opportunity to acquire this property in the desirable submarket of Maitland. For this transaction, we structured an Index Lock at application to protect against upward rise in the treasury yield, and also provided funding for green improvements under Freddie Mac’s Green Advantage program.”
The property features a park-like campus setting with attractive landscaping throughout, while having close access to Orlando’s largest office parks and employment centers.
For comments, questions or concerns, please contact Dennis Kaiser