Office
Debt & Equity

NorthMarq negotiates $1.375 million refinance of Financial Center Office Building in Fort Myers, Florida

MIAMI, FLORIDA (May 4, 2020) – Bob Harrington, vice president of NorthMarq’s Miami office arranged the $1.375 million refinance of Financial Center Office Building, a 30,626 sq. ft. office property located at 7370 College Parkway in Fort Myers, Florida. The permanent-fixed loan was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. 

“The borrower was seeking non-recourse financing, with flexible prepayment during the loan term.  We locked a fixed interest rate in the mid-3%'s, with a step-down prepayment schedule that left the last 3 years of the loan open at par,” said Harrington. “While the interest rate was locked pre-COVID-19, there was excellent communication by all parties involved during the process to keep things on track and close ahead of schedule.” 

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.

1ed409d1-f348-4f77-9782-5eb56cc41e93.jpg
Financial Center Office Building
Permanent Loan - Fixed
$1,375,000