NorthMarq announces $24.25 million acquisition loan for Princeton Parc Apartments in Melbourne, Florida
ORLANDO, FLORIDA (March 20, 2020) – NorthMarq’s Orlando office, arranged the acquisition loan as an Optigo® Freddie Mac lender. The property is located at 4714 Crosswind Court in Melbourne, Florida.
The mortgage features a 10-year term with 5-years of interest only, followed by a 30-year amortization schedule. The borrower was able to utilize Freddie Mac’s Index Lock program to protect against a rise in the Treasury yield during the closing process.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
