Northmarq Arranges $56M Construction Loan For 360-Unit Multifamily In Jacksonville

Located at 7237 Corklan Drive in Jacksonville, this multifamily property consists of 360 units. The transaction took place on 09/21/2022 and was facilitated by Ryan Whitaker from Northmarq. The property image for this deal can be found on Ryan Whitaker's Instagram page.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $56,000,000
• Market: Jacksonville
• Loan Type: Construction Loan
• Loan Terms: 10-year fixed-rate loan, interest-only loan

The loan amount for this deal was set at $56,000,000, and it was secured through a construction loan. The terms of the loan include a 10-year fixed rate with interest-only payments.

Ryan Whitaker from Northmarq represented the parties involved in this transaction.