The Bentley atMaitland
ORLANDO, FL—NorthMarq's Orlando-based office recently securedacquisition financing of $41,210,000 for The Bentley at Maitland, a324-unit multifamily property located here. The transaction wasstructured with a 10-year term with 5-years of interest onlyfollowed by a 30-year amortization schedule. NorthMarq arrangedfinancing for the borrower, Enzo Multifamily and Moneil Investmentsthrough Freddie Mac's Green Advantage program.
Melissa Marcolini Quinn, managing director and SVP withNorthMarq, tells GlobeSt.com that the property was built in 1984and the buyer plans to renovate the remaining units and upgradevarious common areas including the fitness center. The seller isAspen Square Management and the building is 97% occupied.
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