Office - Debt

NorthMarq arranges $12.5 million bridge loan for Quantum Technology Center in Boynton Beach, Florida

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.   

Financing Details:
– 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.

Property Details:
– 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.

Producer Quote:
“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 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.