Multifamily
Debt & Equity

NorthMarq arranges acquisition financing for assumption plus supplemental loan of $12,591,338 for Century Lakehouse in Plant City, Florida

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. 

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: www.northmarq.com.

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Century Lakehouse
other
$12,591,338