Republic Properties Corporation Secures $65 Million Construction Loan For 330-Unit Multifamily In Jacksonville

A construction loan of $65,000,000 has been secured for a multifamily property in Jacksonville. The property consists of 330 units and is owned by Republic Properties Corporation.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Units: 330

The construction loan has a five-year term, with the first four years being interest-only. Afterward, there will be a 30-year amortization schedule.

The deal was facilitated by Northmarq, with brokers Chris Conklin, Errol Blumer, Ryan Saunders, Andrea Howard, Allan Lynch, Austin Jackson, Faron Thompson, Drew Markley, and Ryan Whitaker representing Republic Properties Corporation.