NorthMarq’s Bob Hernandez arranges $3.1 million permanent loan for Aldi/Tractor Supply retail center in Bartow, Florida
TAMPA, FLORIDA (February 26, 2021) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office negotiated the $3.1 million permanent loan for the 50,066 sq. ft. Aldi/Tractor Supply retail center in Bartow, Florida.
The permanent loan was structured with a 20-year self-amortizing term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.
Built in 1996, the sponsor is making significant capital improvements at the site to get the building and parking lot ready for Aldi to move in and begin their own tenant build-out.
“The sponsor did an excellent job of repositioning the center and our lender realized the value that had been created,” said Hernandez.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
