NorthMarq Capital’s Tampa office secures $36 million permanent loan for Ariva Apartment Homes in Lakeland, Florida
Ariva Apartment Homes
TAMPA (November 21, 2017) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, negotiated the $36 million permanent loan for Ariva Apartment Homes, a 312-unit multifamily property located at 4100 Clubhouse Road in Lakeland, Florida. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. “Loan amount, spread and previous performance with our Fannie team won the deal for Fannie Mae,” said Hernandez. “The ability to lock rate and close at 75 percent physical occupancy and 90 percent leased, without stabilized operating history, was also a major factor in the transaction.”
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.
