Office - Debt

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

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.