Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa office secures $3.1 million permanent loan for The Landings at Dossey Oaks in Lakeland, Florida

TAMPA (October 17, 2017) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office arranged $3.1 million in permanent financing for The Landings at Dossey Oaks, a 27-unit multifamily property located at 1008-1079 Dossey Oaks Lane in Lakeland, Florida. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. “This was a small loan in a secondary market, the second one financed through Fannie Mae for this repeat borrower,” said Hernandez. “The sponsor had numerous options and several lenders considering the loan. Our Fannie Mae team moved quickly and aggressively to secure the transaction.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.