Northmarq’s Debt + Equity team secures $3M supplemental financing for Florida industrial building
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Northmarq’s Miami Debt + Equity team led by Bob Harrington and Jeff Robertson successfully secured the $3 million supplemental financing for ICP at 97th, a Doral, Florida industrial building.
Northmarq arranged permanent-fixed financing on behalf of their borrower through the firm’s relationship with the current life insurance company lender. The transaction was structured to be coterminous with the existing first mortgage, which has approximately 16 years remaining in the loan term. This structure enabled the borrower to access the equity that had accumulated in the property.
Built in 2023, ICP at 97th is a 127,150 sq.-ft. single-tenant industrial building. Situated on a 6.99 acre parcel, the property also includes an additional 8,000 sq.-ft. of finished mezzanine office space.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
