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.”