Student Housing - Debt

NorthMarq Capital

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

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.

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.