Multifamily

NorthMarq Capital’s Tampa office arranges $4 million supplemental financing for Woodlake Village Apartments in Palm Bay, Florida

TAMPA (January 3, 2018) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, negotiated $4,000,000 Supplemental Financing for Woodlake Village Apartments, a 462-unit multifamily/conventional market property located in Palm Bay, Florida. This complex is advantageously located in the heart of Palm Bay, the largest urban area in Brevard County. This transaction was structured with an 81-month loan term on a 30 year amortization schedule to be continuous with the senior loan. NorthMarq arranged financing for the borrower through its Fannie Mae platform.

“NorthMarq and Fannie Mae continue to support the sponsor’s efforts to improve the property through increased rehab and management,” said Hernandez.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.