NorthMarq's Tampa office arranges $4.05 million mortgage for Terrace Oaks Plaza in Tampa, Florida
Terrace Oaks Plaza
TAMPA (June 19, 2013) – Alison Williams, vice president of NorthMarq’s Tampa regional office, arranged acquisition financing of $4.05 million for Terrace Oaks Plaza, a 40,659 sq. ft. retail center located at 11301 North 56th Street in Tampa, Florida. Major tenants include Shapes Fitness, Antonio’s Pasta Grill, and Edible Arrangements. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, Terrace Oaks Plaza Realty, LP, through its relationship with a CMBS lender. “An affiliate of a Montreal-based real estate investment firm purchased the 97 percent leased shopping center for $5.40 million. The recent lease extension with the center’s largest tenant as well as the positive occupancy history helped the lender become comfortable with this neighborhood retail center located near the University of South Florida campus,” Williams said.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
