Mixed Use - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa office secures $18.25 million bridge financing for Grand Central at Kennedy in Tampa, Florida

TAMPA (January 17, 2018) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, negotiated $18,250,000 bridge loan financing for Grand Central at Kennedy, a 161,000 sq. ft. urban, mixed-use property located in Tampa, Florida. Grand Central at Kennedy is located in the booming Channleside District of downtown Tampa. This transaction was structured with a 5-year loan term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank.

“Sponsors worked diligently for more than 10 years through the recession to get the subject property stabilized. The tenant roster is continually improving and stabilizing the entire neighborhood,” said Hernandez. “It was a combination of loan amount and pricing, along with a desire to work with a local lender that won the transaction for the local bank.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.