NorthMarq Secures $47 Million Refinancing for 768-Bed Community in Daytona Beach

by Katie Sloan

Daytona Beach, Fla. — NorthMarq has secured a $47 million refinancing for Eagle Landing Apartments, a 768-bed student housing community located in Daytona Beach. The property serves students at Embry-Riddle Aeronautical University, Daytona State College and Bethune Cookman University. Lee Weaver and Bill Hardman of NorthMarq secured the financing, which features a 10-year term with four years of interest-only followed by a 30-year amortization schedule, on behalf of the undisclosed borrower through Freddie Mac. Eagle Landing Apartments offers one-, two-, three- and four-bedroom units. Shared amenities include two resort-style swimming pools, a state-of-the-art fitness center, outdoor grill stations, a coffee lounge, beach volleyball court and private meeting and study rooms. 

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