NorthMarq arranges $22.6 million mortgage for Lincoln Pointe Apartments on Williams Island, Aventura, Florida
WASHINGTON, D.C. (February 13, 2013) – Gary McGlynn and Kenneth Gentzel of NorthMarq’s Washington, D.C. regional office, arranged acquisition financing of $22.6 million for Lincoln Pointe Apartments, a 285-unit market-rate multifamily community located on Williams Island in Aventura, Florida. Financing was full term interest only and was arranged for the borrower, a major state pension fund controlled entity, by NorthMarq through its relationship with a correspondent life company lender. “This property is a class "A", fully stabilized Core asset with additional upside via the redevelopment associated with additional FAR,” said McGlynn.
Meet our team
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.
