Retail - Debt

Northmarq’s Tampa office completes $4.5 million refinance for Keystone Crossing Shopping Center in Odessa, Florida

TAMPA, FLORIDA (September 15, 2022) – Tommy Ware, vice president of Northmarq’s Tampa debt/equity team, arranged the $4.5 million refinance for Keystone Crossing Shopping Center. The 47,817 sq. ft. grocery anchored retail property (built in 2001) is located on a 6-acre plot at 17621 Gunn Highway, Odessa, Florida. 

The permanent-fixed loan was structured on a 10-year term followed by a 25-year amortization schedule. Northmarq secured the financing through a life company lender.

“This was a fantastic refinance execution by both our client and the life company lender. We also leveraged Northmarq’s extensive platform by utilizing our in-house defeasance team to process payoff of the prior loan,” said Ware.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.