NorthMarq Capital’s Tampa office secures $18.25 million bridge financing for Grand Central at Kennedy in Tampa, Florida
Grand Central at Kennedy
TAMPA (January 17, 2018) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, negotiated $18,250,000 bridge loan financing for Grand Central at Kennedy, a 161,000 sq. ft. urban, mixed-use property located in Tampa, Florida. Grand Central at Kennedy is located in the booming Channleside District of downtown Tampa. This transaction was structured with a 5-year loan term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. “Sponsors worked diligently for more than 10 years through the recession to get the subject property stabilized. The tenant roster is continually improving and stabilizing the entire neighborhood,” said Hernandez. “It was a combination of loan amount and pricing, along with a desire to work with a local lender that won the transaction for the local bank.”
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.
