NorthMarq arranges acquisition financing for assumption plus supplemental loan of $12,591,338 for Century Lakehouse in Plant City, Florida
Century Lakehouse
TAMPA, FLORIDA (January 15, 2019) – Bob Hernandez, senior vice president/managing director of NorthMarq’s Tampa-based regional office secured assumption and supplemental financing of $12,591,338 for Century Lakehouse. The 125-unit market-rate multifamily property is located at 3003 South Frontage Road in Plant City, Florida. The transaction was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This was acquisition financing involving an assumption of the existing loan with supplemental financing,” explained Hernandez.
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.
