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.
