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.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
