Industrial - Debt

NorthMarq Capital

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

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. 

 

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.