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. 

 

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.