NorthMarq Capital’s Tampa office arranges $14.22 million construction debt and equity for assisted living facility in Riverview, Florida
Assisted Living Facility
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.”
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.
