Northland secures $76m for Paramount on Lake Eola upgrades

Northland has secured a $76m loan for Paramount on Lake Eola, a mixed-use building in downtown Orlando. The funding, supplied by investment manager PCCP, will be used to make upgrades to the residential units along with renovations to the common areas, lobbies, fitness center and resident lounge. Built in 2008 by ZOM, the 13-story, 303-unit apartment building is also home to the only Publix supermarket in the downtown area. Northland bought the asset from Obligo Real Estate in 2017 for $57.8m.