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.