Northshore Development Secures $48.42 Million Refinance Loan From ACORE Capital For Multifamily Asset In Palm Bay

The property asset involved in the transaction is a multifamily asset located at 2331 Commerce Park Drive Northeast, in the Palm Bay market. The transaction consisted of a refinance loan amounting to $48,420,000 for the 248-unit property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $48,420,000
• Asset Address: 2331 Commerce Park Drive Northeast
• Market: Palm Bay
• Lender: ACORE Capital
• Landlord: Northshore Development - Franz Hanning & Andrew Steel
• Broker Representatives: Brian Gaswirth, Ted Taylor, Kyle Butler & Aaliyah St. Louis - JLL
• Loan Type: Refinance
• Units: 248

The deal involved key individuals such as Franz Hanning and Andrew Steel representing Northshore Development as the landlords. The transaction was brokered by Brian Gaswirth, Ted Taylor, Kyle Butler, and Aaliyah St. Louis from JLL, facilitating the refinancing process with ACORE Capital as the lender.