NorthMarq Capital’s Tampa office secures $12.5 million refinance of Lakehouse Luxury Apartments in Plant City, Florida
Lakehouse Luxury Apts
TAMPA (April 21, 2016) – Robert Hernandez, managing director of NorthMarq Capital’s Tampa-based regional office, arranged the $12.5 million refinance of Lakehouse Luxury Apartments, a 125-unit multifamily property located at 3003 South Frontage Road in Plant City, Florida. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Lakeside Gardens of Plant City, LLC, through its Fannie Mae DUS program. The full loan amount was funded for the property despite being recently completed. “The quick lease-up allowed NorthMarq’s Fannie Mae DUS team to aggressively underwrite the property and fund the requested loan amount,” explained Hernandez.
About Northmarq
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.
