NorthMarq’s Tampa office secures $7 million refinance of Northpointe OffiCenter in Lake Mary, Florida

Northpointe OffiCenter

Debt & Equity

Multi-Tenant

TAMPA, FLORIDA (January 12, 2021) – Bob Hernandez, senior vice president/managing director of NorthMarq’s Tampa office arranged the $7 million refinance of Northpointe OffiCenter. The 52,995 sq. ft. office property is located in Lake Mary, Florida. The transaction was structured with a 10-year term on a 15-year amortization schedule. NorthMarq arranged the permanent-fixed rate loan for the borrower through its correspondent relationship with a life insurance company.

The property was built in 2007 and is 100 percent occupied by a single tenant. The tenant is a large publicly traded telecommunications company. The property is located just off Interstate 4 in Lake Mary, north of Orlando. The site is 5.76 acres.

“The lender was familiar with the asset and sponsor as they had the current loan on the property, which was originated 12 years ago for them by NorthMarq. This allowed them to work quickly and efficiently in executing the new transaction,” said Hernandez.

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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.