NorthMarq Capital arranges $16.05 million acquisition loan for 252 unit multifamily property in Orlando in 30 days

LOS ANGELES (October 23, 2015) – Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles regional office arranged the $16.05 million acquisition loan of Landmark at Siena Springs, a 252 unit multifamily property located at 6101 Westgate Drive in Orlando, Florida. The transaction was structured with a 10-year term with 2-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a conduit CMBS lender. Landmark at Siena Springs offers a beautiful lake-front property with views provided by private patios and balconies. Property amenities include: seven pools; a dog park; preferred employer discounts; Wi-Fi Café; outdoor grill and picnic area; business center; recreation center; clubhouse and storage space. Unit amenities include: air conditioning; cable ready; heating; high speed internet access; washer/dryer hook-up; dishwasher; walk-in closets and window coverings. “We were able to close this very challenging transaction with many moving parts in an unstable CMBS market in 30 days,” noted Schwartz.