TAMPA (October 5, 2016) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, arranged $15.4 million in preferred equity for Channel Club, a 323-unit/22-stories multifamily property located at 1105 and 1115 East Twiggs Street in Tampa, Florida. The transaction was structured with a 3-year term plus two 1-year extensions. NorthMarq arranged the equity through its relationship with a national lender for Channel Club-TA LLC a Mercury Advisors, ECI Group joint venture.
“Channel Club is now under construction in the Channel district of downtown Tampa,” said Hernandez. “The project will consist of 323 apartments in a 22-story building with an integrated parking structure. A Publix Super Market will also be located within the property, adjacent to the high rise on the ground floor.”