MIAMI, FLORIDA (December 12, 2019) – Paul Whalen, vice president of NorthMarq’s Miami-based regional office arranged refinancing of $12.5 million for Quantum Technology Center. The office property is located at 3301 Quantum Boulevard in Boynton Beach, Florida.
– 5-year term (with 3-years of interest-only)
– 25-year amortization schedule
– NorthMarq arranged the bridge loan for the borrower through its relationship with a national bank. The loan repaid existing financing arranged by NorthMarq and provided funds for capital and tenant improvements.
– The property contains 100,000 sq. ft.
– QTC’s location features close proximity to major transportation routes and is convenient to retail, dining and other amenities which are important to employers in attracting the best available work force.
– The building is currently 100 percent leased with 50 percent of the space leased long term to NYU/Langone Health, one of the nation’s premier academic medical centers devoted to patient care, education and research.
“The success of Quantum Technology Center is a tribute to hard work by the building’s owner; invaluable assistance from The City of Boynton Beach and a flexibly structured loan from sophisticated lender.”
– Paul Whalen