Bob Hernandez and Lauren Hanley arrange $10.4 million refinance of affordable housing complex in Brandon, Florida
Affordable Housing Complex
TAMPA, FLORIDA (April 5, 2019) – Bob Hernandez, senior vice president/managing director and Lauren Hanley, vice president of NorthMarq’s Tampa-based regional office secured the $10.4 million refinance of a 160-unit apartment complex located in Brandon, Florida. The transaction was structured as interest only for the entire 15-year term.
The subject property is more than 40 years old and continues to serve the community well by providing affordable housing. The NorthMarq team and sponsor worked efficiently to quickly process the loan and take advantage of the lower rates, closing at an interest rate significantly below the quoted rate.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
