NorthMarq Capital arranges financing of $24 million for Fountains at Bay Hill in Orlando, Florida
Fountains at Bay Hill
SAN DIEGO (November 4, 2014) – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego based regional office secured financing of $24 million for Fountains at Bay Hill, a 103,767 sq.ft. retail property located in Orlando, Florida. The transaction was structured with a 7-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. ”The lender won the deal by providing a flexible prepayment structure combined with an excellent rate,” said Hollister. “The prepayment structure was the greater of Yield Maintenance or one percent in years 1-3 and then opens at par for the remainder of the term.”
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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 $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.
