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NorthMarq Secures $26M Refinancing for Gainesville Student Housing Property
NorthMarq has secured a $26 million loan to refinance College Park at Midtown, a 300-bed student housing property in Gainesville. The property serves students at the University of Florida.
Amenities at the property include key fob entry to elevators, keyless entry to apartments, beds with built-in USB ports and adjustable storage, controlled access to buildings and elevators, barn-style doors in select apartments, and plantation blinds. Appointments also include fully-furnished apartments with private bedrooms and bathrooms, modern white cabinets with tile backsplash, chef-style kitchens with stainless steel appliances, laminate flooring, high speed internet/cable, in-unit washer/dryer and a covered parking garage.
Lamar Sarra of NorthMarq’s Jacksonville office secured the permanent-fixed loan for the undisclosed borrower through Fannie Mae. Terms included a 10-year term and a 30-year amortizations schedule.
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- ◦Financing
