Office - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa regional office secured $1.7 million permanent loan for office property in Tampa, Florida

TAMPA (October 15, 2018) – Robert Hernandez, senior vice president/managing director and Lauren Hanley, vice president of NorthMarq Capital’s Tampa-based regional office negotiated $1.7 million in financing for a 38,399 sq. ft. office property located at 1300 North Westshore Boulevard in Tampa, Florida. The transaction was structured with a 14-year term on a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

“This was a substitution of collateral,” said Hernandez. “The sponsor needed to pay off his loan secured by another property. The lender allowed the sponsor to substitute the subject property as collateral.” 

 

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.