NorthMarq Capital’s Robert Hernandez negotiates $8 million refinance of Renaissance Place in Palm Bay, Florida

TAMPA (October 21, 2016) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, arranged the $8 million refinance of Renaissance Place, a 174,915 sq. ft. mixed-use property located at 2465, 5469, 2475 and 2485 Palm Bay NE in Palm Bay, Florida. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. Uncle Bob’s Self Storage, American Title and Thrifty Produce represent the property’s major tenants. “The subject property was originally the home office for a defense contractor,” said Hernandez. “The sponsor did a great job of readapting the property by creating a mixed-use campus with office, industrial and self-storage. The property has been well received and has been leasing quicker than scheduled—which demonstrates the need.”