TAMPA, FLORIDA (July 10, 2019) – Robert Hernandez, managing director and Lauren Hanley, vice president of NorthMarq’s Tampa-based regional office arranged the $4,875,000 acquisition financing of Benjamin Center VII & IX. The 69,185 sq. ft. office/flex property is located at 5706 & 5910 Benjamin Center Drive in Tampa, Florida. The permanent, fixed rate loan was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company lender.
“We fixed the interest rate at application and closed in less than 30 days. We worked diligently with the purchaser, our client, and correspondent life company to close the non-recourse loan in a short time frame,” said Hernandez.