NorthMarq Capital’s Tampa office finalizes construction/permanent loan of $16.4 million for multifamily in Dickinson, Texas

Bahia Cove
TAMPA (December 19, 2017) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, arranged construction/permanent loan financing for Bahia Cove, a 248-unit conventional market multifamily property located at 901 FM 517 Road West in Dickinson, Texas. The transaction was structured with a 10-year term with 3-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “Both the lender and the sponsor worked diligently to keep the transaction together after Hurricane Harvey flooded the property,” explained Hernandez. “This is a unique transaction in that it is an acquisition/extensive rehab/permanent loan.”

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:

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