NorthMarq Capital’s Tampa office inks $24 million refinance of office/manufacturing property in Melbourne, Florida

Office/Manufacturing Property

Debt & Equity

Multi-Tenant

TAMPA (November 7, 2018) – Robert Hernandez, managing director and Lauren Hanley, vice president of NorthMarq Capital’s Tampa regional office, arranged the $24 million refinance of a 311,287 sq. ft. office/manufacturing property located at 100 North Babcock Street in Melbourne, Florida. The transaction was structured with an 11-year self-liquidating loan. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The single tenant, Leonardo DRS Inc., is a developer of mission-critical products and services that support military forces, intelligence agencies and prime contractors.

“The developer acted quickly and decisively to secure both the lease and financing for the subject transaction,” said Hernandez.

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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.