May 20, 2013

Robert Hernandez arranged $2.542 million mortgage for Fourth Street Office in St. Petersburg, Florida

Fourth Street Office

Debt & Equity

Multi-Tenant

TAMPA (May 20, 2013) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office, arranged first mortgage refinancing of $2.542 million for 3637 4th Street North, a 42,269 sq. ft. multi-tenant office building located in St. Petersburg, Florida. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, a Florida Limited Partnership, through its relationship with a regional bank. “The sponsor’s strong financials made it possible for the bank to make the loan and structure around the vacancies and tenant rent roll risk,” Hernandez said.

Available Office properties

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.