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.