NorthMarq Capital’s Tampa office arranges $15 million permanent loan for Plaza Tower & Courtyard Shops in St. Petersburg, Florida

Plaza Tower & Courtyard Shops

Debt & Equity

Multi-Tenant

TAMPA (February 21, 2018) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, finalized a $15 million permanent loan for Plaza Tower & Courtyard Shops, a 184,000 sq. ft. mixed use (office and retail) property located at 111 2nd Avenue NE and 201 1st Street NE in St. Petersburg, Florida. The transaction was structured with a 7-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. Major tenants include: Keller Williams Realty, LIG Marine and Gulfcoast Ultrasound Institute. “The loan was non-recourse from a local community bank,” noted Hernandez. “The lender, sponsors and entire closing team worked efficiently and quickly to close the loan prior to maturity.”

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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.