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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.