NorthMarq’s Tampa office arranges $15.4 million for two faith-based student housing properties

Faith-Based Student Housing

Debt & Equity

Multi-Tenant

TAMPA, FLORIDA (July 10, 2019) – Robert Hernandez, managing director and Lauren Hanley, vice president of NorthMarq’s Tampa-based regional office negotiated the financing for Newman Student Housing’s St. Robert Bellarmine Hall and Frassati Newman Hall , two faith-based student housing properties serving the campuses of University of South Florida and University of North Florida.

The permanent loans were structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

“We secured the non-recourse financing as interest rates were declining, which provided an excellent all-in rate,” said Hernandez.

- Newman Student Housing USF, refinanced for $8,400,000, is located at 12977 North 50th Street in Temple Terrace, Florida. The property contains 69 units/208 beds.

- Newman Student Housing UNF, refinanced for, $7,000,000 is located at 11291 Alumni Way in Jacksonville, Florida. The property contains 69 units/204 beds.

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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.