NorthMarq Capital’s Tampa office arranges $11.72 million bridge loan for refinance of Edgewater Corporate Center in Tallahassee, Florida
Edgewater Corporate Center
TAMPA (November 20, 2018) – Lauren Hanley, vice president and Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, secured the $11.72 million floating rate bridge loan for Edgewater Corporate Center, located in Tallahassee, Florida. The property is a multi-tenanted office park containing approximately 125,000 rentable sq. ft. The non-recourse loan was structured with a 2-year interest-only term with extensions up to five years.
“The lender for this transaction provided a deal structure which fit the borrower’s business plan, allowing for funding of remaining tenant improvements and leasing commissions to bring the office park to full occupancy,” explained Hanley.
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.
