NorthMarq Capital’s Robert Hernandez secured $15.4 million in preferred equity for multifamily property in Tampa, Florida

Channel Club

Debt & Equity

Multi-Tenant

TAMPA (October 5, 2016) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, arranged $15.4 million in preferred equity for Channel Club, a 323-unit/22-stories multifamily property located at 1105 and 1115 East Twiggs Street in Tampa, Florida. The transaction was structured with a 3-year term plus two 1-year extensions. NorthMarq arranged the equity through its relationship with a national lender for Channel Club-TA LLC a Mercury Advisors, ECI Group joint venture. “Channel Club is now under construction in the Channel district of downtown Tampa,” said Hernandez. “The project will consist of 323 apartments in a 22-story building with an integrated parking structure. A Publix Super Market will also be located within the property, adjacent to the high rise on the ground floor.”

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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.