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