Northmarq Arranges $78.5M Construction Loan For Multifamily Property In Jacksonville

An article was posted on Instagram showcasing a multifamily property transaction in Jacksonville. The property is located at 8760 Pinnacle Park Blvd and consists of 376 units. The transaction was facilitated by Ryan Whitaker from Northmarq as the broker representative.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $78,500,000
• Loan Type: Construction Loan
• Loan Terms: 10-year loan features five years of interest-only payments followed by a 30-year amortization schedule

This construction loan amounting to $78,500,000 was secured for the multifamily property located at 8760 Pinnacle Park Blvd in Jacksonville. The loan features a term of 10 years with five years of interest-only payments, followed by a 30-year amortization schedule. Ryan Whitaker from Northmarq represented the parties involved in the transaction as the broker.