January 17, 2018

NorthMarq Capital’s Tampa office secures $18.25 million bridge financing for Grand Central at Kennedy in Tampa, Florida

Grand Central at Kennedy

Debt & Equity

Multi-Tenant

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.”

Available Mixed Use 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.