Ruston, La. — NorthMarq has secured $12.5 million in joint venture equity for the development of The Preserves at Tech. Lee Weaver and Bill Hardman of NorthMarq secured financing on behalf of an undisclosed developer. The 588-bed student housing community will be located at 2003 West Alabama Ave. in Ruston, Louisiana. Further details on the property, including a timeline for development, were undisclosed.
Gainesville, Fla. — NorthMarq has arranged a $26.1 million refinancing for College Park at Midtown, a 300-bed student housing community serving the University of Florida in Gainesville. Lamar Sarra of NorthMarq’s Jacksonville office secured the financing — which features a 10-year term with a 30-year amortization schedule — on behalf of the undisclosed borrower through Fannie Mae. College Park at Midtown offers one-, two- and four-bedroom, fully furnished units with bed-to-bath parity.
Milledgeville, Ga. — NorthMarq has secured a $6 million refinancing for Boulevard Milledgeville, a 126-bed student housing community located near Georgia College and State University. Lee Weaver of NorthMarq secured the loan through Fannie Mae, which features a 10-year term and a 30-year amortization schedule. The borrower in the transaction was undisclosed.
Blacksburg, Va. — NorthMarq has arranged $16 million in construction financing for Park 37 Apartments, a 215-bed student housing community located near the Virginia Tech campus in Blacksburg. Mike Lowry of NorthMarq secured the loan through a regional bank on behalf of an undisclosed, Virginia-based developer. The financing features a three-year term with three years interest-only. The developer broke ground on Park 37 Apartments in April, with completion scheduled for July 2020. Shared amenities at the property will include a clubhouse, lounge, fitness center, swimming pool, fire pit, covered bike …
Tallahassee, Fla. — NorthMarq has arranged $16.2 million in construction equity for Haven 17 at FSU, a 702-bed housing complex near Florida State University. Communal amenities will include a cyber-lounge with charging stations, coffee bar, fitness center, yoga studio with on-demand classes, tanning room, sauna, gaming area, computer center, private study areas, Amazon package lockers and Smart Market vending. Additionally, the pool area will include an expansive sun deck with TVs, built-in grilling stations, putting green and a hammock garden. The property is situated within walking distance of the main …
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 …
Carrollton, Ga. — NorthMarq has secured a $22.2 million refinance for Flats at 316, a 240-unit student housing community located near the University of West Georgia in Carrollton.
Los Angeles — Ory Schwartz arranged the financing, which included more than $2 million in additional capital for future projects.
Melbourne, Fla. — The property, Mary Star of the Sea, received CMBS funds.
Tallahassee — Catalyst includes apartments and shops and is walking distance to FSU.
