TAMPA (April 21, 2016) – Robert Hernandez, managing director of NorthMarq Capital’s Tampa-based regional office, negotiated $14.22 million in construction debt and equity for Twin Creeks Assisted Living Facility, a 55,035 sq. ft. property consisting of 96 beds. The transaction was structured with a three-year interest only term. NorthMarq arranged financing for the borrower, Lithia Assisted Living, LLC through its relationship with a regional bank and a private equity investor.
“The equity fund, construction lender and sponsors were all patient and worked diligently to see the project through the permitting process,” said Hernandez. “Private equity allowed this much-needed facility to be built.”