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 is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
