PENSACOLA, FL-Cohen Financial has secured an $8.728-million loan for the acquisition of Marcus Pointe, a 248-unit garden-style apartment complex at 6111 Enterprise Drive in Pensacola. Mark Strauss and Kevin Greenberg from Cohen Financial's Irvine office arranged the fixed-rate loan, which has a 10-year term at 55% LTV having a 30-year amortization, for the 309,636-square-foot Class A multifamily property.
Wells Fargo Multifamily Capital provided the loan through its Freddie Mac program. Passco Companies, LLC is the sponsor.For the full story, go to Florida Real Estate Journal.
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