April 21, 2016

NorthMarq Capital’s Tampa office secures $12.5 million refinance of Lakehouse Luxury Apartments in Plant City, Florida

Lakehouse Luxury Apts

Debt & Equity

Multi-Tenant

TAMPA (April 21, 2016) – Robert Hernandez, managing director of NorthMarq Capital’s Tampa-based regional office, arranged the $12.5 million refinance of Lakehouse Luxury Apartments, a 125-unit multifamily property located at 3003 South Frontage Road in Plant City, Florida. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Lakeside Gardens of Plant City, LLC, through its Fannie Mae DUS program. The full loan amount was funded for the property despite being recently completed. “The quick lease-up allowed NorthMarq’s Fannie Mae DUS team to aggressively underwrite the property and fund the requested loan amount,” explained Hernandez.

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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.