Republic Properties Wraps Up JV Equity, Construction Debt Deals for $65M Jacksonville Multifamily

Washington, DC-based Republic Properties Corporation has finalized deals with Northmarq for $19.5 million in joint venture equity and $45 million in construction debt for Collins Preserve, a $65 million, 330-unit multifamily development in Jacksonville, FL.

The construction loan was structured with a five-year term including four years of interest only followed by a 30-year amortization schedule. Northmarq secured the new loan for with a commercial bank.

The Northmarq team that worked on the deals included Chris Conklin, Errol Blumer, Ryan Saunders, Andrea Howard, Allan Lynch, and Austin Jackson, Faron Thompson, Drew Markley, and Ryan Whitaker.

Collins Preserve, located on Collins Road, will comprise 11 three-story, 30-unit buildings with 132 one-bedroom units, 165 two-bedrooms and 33 three-bedroom units. Amenities include a clubhouse, a resort-style pool, grilling areas, a dog park and a fitness center.

Republic Properties Corporation has selected Summit Contracting Group to construct the property in the Summit Prototype Multifamily style.