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NorthMarq Capital Arranges $39.2M Construction Loan for Multifamily Property in Jacksonville

Ciel Apartments is a planned 400-unit multifamily community in Jacksonville, Fla.

Ciel Apartments is a planned 400-unit multifamily community in Jacksonville, Fla.

JACKSONVILLE, FLA. — NorthMarq Capital has arranged $39.2 million in permanent construction financing for Ciel Apartments, a planned 400-unit multifamily community in Jacksonville. Bob Hernandez of NorthMarq Capital’s Tampa office structured the 15-year loan through an undisclosed life insurance company. The financing includes a 30-year amortization schedule and several years of interest-only payments during construction and while the property is in lease-up.

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