Retail - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa regional office arranges $8 million construction/permanent loan for River Springs Town Center in Riverview, Florida

TAMPA (October 8, 2018) – Robert Hernandez, senior vice president/managing director and Lauren Hanley, vice president of NorthMarq Capital’s Tampa-based regional office secured the $8 million construction/permanent loan for River Springs Town Center, a 60,000 sq. ft. retail property located at 13410 Boyette Road in Riverview, Florida. NorthMarq arranged financing for the borrower through its relationship with a regional bank. The transaction was structured with a 5-year term, including an interest-only period, followed by a 25-year amortization schedule. Major tenants at the property include: Pinch-A-Penny; Tampa General Medical Group – Family Care Center; The Worx 24 Hour Fitness. 

“The financing will provide funds for an addition to the existing center,” noted Hernandez. “The transaction was a refinance to a construction loan rolling into a permanent loan.”   

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.