$62.09M in Combined Mortgages for Three So. FL Multifamily Properties
David Woida, vice president and managing director of NorthMarq’s Milwaukee Regional office, has arranged combined first mortgage refinancings of $62.09 million for three multifamily properties containing a combined total of 926 market-rate multifamily units located in South Florida.
· Waterford Landing Apartments contain 362 market-rate multifamily units and was financed at $25,245,000.
· Waterford Point Apartments contain 244 market-rate multifamily units and was financed at $16,595,000. These two properties are located in Miami.
· Reflections of Boca Apartments contain 320 market-rate multifamily units and were financed at $20,250,000. This property is located in Boca Raton.
Financing for these properties was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its seller-servicer relationship with Freddie Mac.