NorthMarq Capital’s Tampa regional office secured $1.7 million permanent loan for office property in Tampa, Florida
TAMPA (October 15, 2018) – Robert Hernandez, senior vice president/managing director and Lauren Hanley, vice president of NorthMarq Capital’s Tampa-based regional office negotiated $1.7 million in financing for a 38,399 sq. ft. office property located at 1300 North Westshore Boulevard in Tampa, Florida. The transaction was structured with a 14-year term on a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“This was a substitution of collateral,” said Hernandez. “The sponsor needed to pay off his loan secured by another property. The lender allowed the sponsor to substitute the subject property as collateral.”
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.
