TAMPA (June 24, 2013) – Robert Hernandez, senior vice president/managing director of NorthMarq’s Tampa regional office, arranged first mortgage refinancing of $6.8 million for Woodlake Commerce Park, a 170,345 sq. ft. industrial/flex property located at 2330 Commerce Park Drive, NE in Palm Bay, Florida. Major tenants at the site are Syncron EMS and National Service Source, Inc. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “The sponsor did a great job of re-tenanting the subject property after the major tenant vacated,” Hernandez said. “The re-tenanting, along with the conservative loan request, compelled the lender to structure the transaction around tenant roll risk.”
Industrial -
Debt
