Bob Hernandez and Lauren Hanley arrange $10.4 million refinance of affordable housing complex in Brandon, Florida
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.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
