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