Retail - Debt

NorthMarq Capital’s Tampa office arranges financing of $13.5 million for University Village in Tallahassee, Florida

TAMPA (February 23, 2015) – Lee Weaver, senior vice president of NorthMarq Capital’s Tampa based regional office arranged refinancing of $13.5 million for University Village, a 152,104 sq.ft. retail center located at 2020 West Pensacola Street in Tallahassee, Florida. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS lender. The property is situated in close proximity to the state’s largest university and features a tenant mix ideal for the student population. Major tenants include: Gold’s Gym and the Post Office.

“The lender provided a structure that allows some of the excess land to be carved out from the collateral, accommodating plans for additional retail development,” said Weaver.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.