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.