Chance Partners & EJF Capital Refinances San Marco Multifamily Property For $95M

The recent closed property transaction in San Marco, Jacksonville involved a multifamily asset with a total of 486 units. The property is located at 1810 Bertha Street and 1900 Olevia St. The deal was finalized on 05/02/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $95,000,000
• Market: San Marco, Jacksonville

The loan for this transaction was provided by Metropolitan Life Insurance Company. The landlords involved in the deal were Chance Partners and EJF Capital. The brokers who represented the parties in the transaction were Philip Rachels, Jeff Kinney, and Brett Bosworth from CBRE.

The loan amount for the refinancing loan was $95,000,000, and the loan terms included a 10-year term with full interest-only payments throughout the loan period.