NorthMarq Capital arranges construction financing of $45 million for Elevé61 condominium in Tampa, Florida
TAMPA (July 16, 2018) – Robert Hernandez, senior vice president/managing director and Lauren Hanley, vice president of NorthMarq Capital’s Tampa regional office arranged construction financing of $45,000,000 for Elevé61, a condominium located at 858 Channelside Drive, Tampa, Florida. The luxury condo tower will include 61 residences within 35 floors. The transaction was structured with a 3-year term on an interest only basis. The loan closing and initial funding was made prior to any pre-sales. NorthMarq arranged financing for the borrower through its relationship with a private lender.
This transaction was featured in the Tampa Bay Business Journal. Read the story here.
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.
