NorthMarq’s Tampa office arranges $6.635 million bridge loan for Fisherman’s Cove Golf & R.V. Resort

Fisherman’s Cove Golf & R.V. Resort

Debt & Equity

Multi-Tenant

TAMPA, FLORIDA (January 8, 2019) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office negotiated the $6.635 million refinance of Fisherman’s Cove Golf & R.V. Resort, a R.V. Park, Marina and Golf Course consisting of 330 R.V. pads located at 3950 North Eichelberger Road in Tavares, Florida. The bridge loan was structured with a 7-year term with 2-years of interest only followed by a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

“The sponsor and lender worked diligently to help NorthMarq close the transaction on this unique, multi-use property,” said Hernandez. “The bridge to mini-permanent financing allowed the borrower to construct a new clubhouse and renovate 250 R.V. pads, while providing sufficient collateral and in-place cash flow for the lender to be comfortable.”

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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.