NorthMarq’s Robert Hernandez arranges $5.266 million refinance for Shoppes of Fishhawk in Lithia, Florida
TAMPA, FLORIDA (October 4, 2021) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office, negotiated the $5.266 million refinance for a 73,695 square foot Winn-Dixie anchored neighborhood retail center in Lithia, Florida.
The permanent, fixed rate loan was structured on a 10-year term with a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company lender.
At the time of closing, the subject was 100 percent occupied with 16 local, regional and national tenants. Built in 2000, Shoppes of Fishhawk is a single story retail center spread across a 9-acre site. The subject is located in the thriving FishHawk area, which is a suburb of Lithia in Hillsborough County, 20 miles southeast of downtown Tampa. The property benefits from a growing population, good demographics and excellent accessibility to all surrounding areas via I-75, I-4 and U.S. 301.
“This refinance places both phases of the shopping center under one loan and the life company execution will make servicing the loan much more efficient,” 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.
