NorthMarq Capital’s Tampa office completes $8,042,000 new construction loan for St. Robert Bellarmine Hall student housing
TAMPA (October 5, 2016) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, arranged a new construction loan of $8,042,000 for St. Robert Bellarmine Hall, a 69-unit/208-bed student housing property located at 12950 and 12977 North 50th Street in Temple Terrace (Tampa), Florida. The transaction was structured with a 2-year term (with a 3-year option) with 2-years of interest only, followed by a 25-year amortization schedule for the option period. NorthMarq arranged financing for the borrower, NSHF Tampa LLC, through its relationship with First Florida Integrity Bank. “The development is a joint venture between a national developer and the Catholic diocese of St. Petersburg,” said Hernandez. “The development is needed and will greatly enhance student housing options at USF.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
