Office - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa office arranges $5 million refinance of 700 South Babcock Street in Melbourne, Florida

TAMPA (July 6, 2017) Bob Hernandez, senior vice president/ managing director of NorthMarq Capital’s Tampa regional office, arranged the refinance of $5,000,000 for 700 South Babcock Street, a 54,415 sq. ft. office property in Melbourne, Florida. The transaction was structured with a 10-year term on a 10-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a Correspondent Life Company. “The current lender would not provide a 10/10 self-liquidating loan and our Correspondent Life Company immediately stepped in and quoted the deal at the requested terms.” “The professionalism of both the Lender and the Sponsor resulted in a quick and efficient closing,” 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 over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.