Northmarq Debt + Equity team arranges $43.85 million new construction loan for Gibsonia Gardens in Lakeland, FL
LAKELAND, Fla. (Jan. 9, 2025) — Northmarq’s Tampa Debt + Equity team led by Bob Hernandez successfully arranged the $43.85 million new construction loan for Gibsonia Gardens, a 276-unit multifamily community to be located at 6508 US-98 N in Lakeland, Florida.
Northmarq arranged financing on behalf of a repeat client with a correspondent lender. The transaction was structured on a three-year term.
“Both the sponsor and lender worked very hard with Northmarq in negotiating a final budget and commitment to get the loan closed in 2024,” Hernandez said. “I’m sure this is the beginning of a very good working relationship for all parties involved.”
Gibsonia Gardens is projected to be completed in 2026. The property is conveniently located near U.S. Highway 98 and Interstate 4 and is close to restaurants, shopping, golf courses, outdoor space and Lake Gibson. It sits roughly 36 miles from downtown Tampa and 63 miles from downtown Orlando.
