Northmarq arranges $13.35 million bridge loan for Fairway Industrial Park in Sarasota, FL
SARASOTA, Fla. — Northmarq's Tampa Debt + Equity team led by Tommy Ware successfully arranged the $13.35 million acquisition financing for Fairway Industrial Park, a five-building, 151,603-sq.-ft. warehouse portfolio located within the Downtown Sarasota submarket.
Northmarq arranged the financing on behalf of the borrowers through one of its valued life insurance company correspondents.
The transaction was structured on a three-year term.
Built in phases between 1969 and 2003, Fairway Industrial Park features five buildings sitting on 8.8 acres. The property is centrally located near 12th Street and U.S. Hwy. 301. It is roughly a mile from downtown Sarasota and sits about five miles from access to Interstate 75.
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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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
