Northmarq recently arranged the $10,857 refinance of Colonial Gardens Apartments in Orlando. Mike Padilla, Northmarq senior vice president and Dan Trebil, executive vice president and regional managing director in the Minneapolis office worked together to secure financing for this 220-unit workforce housing property.
The refinancing was structured with a 10-year term featuring five years of interest only payments on a 30-year amortization schedule. Northmarq secured funding through its status as a Freddie Mac Optigo lender.
Colonial Gardens Apartments is located west of Orlando and consists newly renovated studio and one bedroom apartment homes that offer easy access to local restaurants, grocery stores, events & festivities as well as nearby parks including Barnett Park & Orlo Vista Park – all within close proximity to the Orlando International Airport & Camping World Stadium too!
