Northmarq secures $1,105,000 construction loan for Hallandale Beach mixed-use property

Hallandale Beach Mixed-Use
Debt & Equity
Mixed Use
Debt
Bank
9,818-sq.-ft. mixed-use property in Florida

FORT LAUDERDALE, FL  (May 28, 2024) — Bob Harrington, vice president of Northmarq’s Fort Lauderdale Debt + Equity office, successfully arranged the construction financing of a 9,818-sq.-ft. mixed-use property for $1,105,000.

Northmarq arranged financing on behalf of the borrower, a local owner-developer, through a relationship with a regional commercial bank. The transaction was structured on a 3-year term with 2 years interest only and a 25-year amortization schedule.

“Northmarq was pleased to assist our local developer client with construction financing for this project,” said Harrington. “A regional bank partner was able to step up and provide attractive financing terms. This project will be a steppingstone to more and larger projects for the sponsor.”

The multi-tenant property boasts an excellent location in the Miami-Fort Lauderdale MSA and is just one block from I-95 and Hallandale Beach Boulevard.

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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.
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