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