Office - Debt

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

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.