NorthMarq Capital’s Tampa office arranges $11.72 million bridge loan for refinance of Edgewater Corporate Center in Tallahassee, Florida
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.
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.
