NorthMarq Capital’s Robert Hernandez arranges $4 million refinance of Lithia Square in Brandon, Florida
Lithia Square
TAMPA (February 3, 2017) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, finalized the $4 million refinance of Lithia Square, a 69,007 sq. ft. grocery-anchored retail property located at 901-927 Lithia Pinecrest Road in Brandon, Florida. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national CMBS lender. Walmart is on a ground lease and owns their own building. “The Walmart ground lease and low-leverage allowed the lender to provide funding despite the vacancy in local space,” said 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.
