Retail - Debt

NorthMarq Capital

NorthMarq Capital arranges $14 million refinance of Publix at Summerfield Crossings in Riverview, Florida

TAMPA (April 14, 2016) – Robert Hernandez, managing director of NorthMarq Capital’s Tampa-based regional office, negotiated the $14 million refinance of Publix at Summerfield Crossings, a 69,917 sq. ft. retail property located at 13146 U.S. Hwy. 301 South in Riverview, Florida. The transaction was structured with a 10-year term with 2-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, Big Bend Group, LLC, through its correspondent relationship with a life insurance company. The cash-out refinance was permitted for this Publix anchored retail center, which has been performing well for years.

“As a result of the sales and occupancy of the center, both the lender and borrower were comfortable maximizing the loan amount,” 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.