NorthMarq’s Bob Hernandez arranges $3.1 million permanent loan for Aldi/Tractor Supply retail center in Bartow, Florida
Retail Center
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.
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.
