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.” 

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.