{"id":1004050416,"date":"2012-09-27T14:46:03","date_gmt":"2012-09-27T22:46:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=71216"},"modified":"2022-12-08T04:04:27","modified_gmt":"2022-12-08T12:04:27","slug":"prudential-mortgage-provides-10-5m-loan-for-palatine-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prudential-mortgage-provides-10-5m-loan-for-palatine-acquisition\/","title":{"rendered":"Prudential Mortgage Provides $10.5M Loan for Palatine Acquisition"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/villas-exterior-large1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-71560\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/villas-exterior-large1.jpg\" alt=\"\" width=\"300\" height=\"181\" \/><\/a><\/em><\/p>\n<p style=\"text-align: justify\">Prudential Mortgage Capital Co. has originated a $10.5 million Fannie Mae loan for an affiliate of Palatine Capital Partners Management LLC to finance its purchase of The Villas at Dames Point Crossing apartment community.<\/p>\n<p style=\"text-align: justify\">Originally constructed in two phases as condominiums between 2006 and 2007, the owner opened the complex\u00a0as a rental following the 2008 U.S. financial crisis. The Villas, which remains titled as a condominium, is the newest community constructed in the Arlington submarket of Jacksonville and is more than 90 percent occupied. The 180-unit apartment community is located near I-295.\u00a0It is close to\u00a0local beaches, the airport, downtown Jacksonville, Mayport Naval Station and the Southside office market.<\/p>\n<p style=\"text-align: justify\">\u201cAs one of the newest properties in this area, its high occupancy, potential for future condominium sales and its proximity to key area office, recreational and shopping areas made this transaction extremely attractive to us,\u201d said Brian Salyards, a principal with Prudential Mortgage Capital, who originated the transaction. \u201cWe look forward to continuing our relationship with Palatine Capital Partners Management.\u201d<\/p>\n<p style=\"text-align: justify\">Palatine Capital\u2019s founder and managing partner Alex Hurst admitted that the execution of the transaction was a highly complicated one which transpired over many months. The Villas at Dames Point Crossing\u2019s purchase represents a step towards continuing to grow the firm\u2019s footprint in Florida and the Southeast.<\/p>\n<p style=\"text-align: justify\">Palatine Capital Partners Management is a private real estate principal firm focused on situational asset level investing in the United States. Palatine specifically pursues opportunistic equity investments in apartment properties and acquires performing and non-performing whole loans nationwide in every asset class. Since inception in 2007, Palatine has acquired interests in over $715 million of assets, including over 3,500 apartment units, 265,000 square feet of commercial space and 20 whole loans.<\/p>\n<p style=\"text-align: justify\"><em>Image via https:\/\/www.villasatdamespoint.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prudential Mortgage Capital Co. has originated a $10.5 million Fannie Mae loan for an affiliate of Palatine Capital Partners Management LLC to finance its purchase of The Villas at Dames Point Crossing apartment community.<\/p>\n","protected":false},"author":39,"featured_media":1004506628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1591,21742],"tags":[],"class_list":["post-1004050416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jacksonville","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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