NorthMarq Capital’s Tampa office secures $36 million permanent loan for Ariva Apartment Homes in Lakeland, Florida
TAMPA (November 21, 2017) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, negotiated the $36 million permanent loan for Ariva Apartment Homes, a 312-unit multifamily property located at 4100 Clubhouse Road in Lakeland, Florida. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. “Loan amount, spread and previous performance with our Fannie team won the deal for Fannie Mae,” said Hernandez. “The ability to lock rate and close at 75 percent physical occupancy and 90 percent leased, without stabilized operating history, was also a major factor in the transaction.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
