NorthMarq Capital’s Tampa office arranges $3.5 million refinance of Meadowood Apartments in Lakeland, Florida
TAMPA (July 28, 2016) – Robert Hernandez, managing director of NorthMarq Capital’s Tampa-based regional office, arranged the $3.5 million refinance of Meadowood Apartments, a 40-unit multifamily property located on Brook Meadow Drive and Pogonia Drive in Lakeland, Florida. The transaction was structured with a 10-year term and 30-year amortization. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. The property is comprised of duplex townhomes on contiguous individual parcels. “The borrower and lender worked well together in resolving several issues concerning the refinance, which ultimately resulted in a smooth and efficient closing,” said Hernandez.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
