Northmarq’s West Palm Beach Debt + Equity team successfully arranges $4.8M refinance for Port St. Lucie distribution center
ST. LUCIE, Fla. (Feb. 7, 2025) — Northmarq’s West Palm Beach Debt + Equity team of David Gahagan, Chris Hammel and Chandler Kaye successfully arranged the $4.8 million refinance of the 660 Peacock warehouse and distribution center located at 660 NW Peacock Blvd in Port St. Lucie, Florida. Northmarq arranged the bridge loan through its relationship with a life insurance company on a five-year term.
"When the borrower acquired the property, it was occupied by a single tenant with a large mezzanine space. The borrower’s renovations included removing the mezzanine and subdividing the building into five bays with 20-foot clear height, grade level service doors and glass office fronts,” said Gahagan. “One of our correspondent life insurance companies provided a loan quote that met the borrower requests for proceeds, interest rate and term.”
The 55,000-sq.-ft. warehouse was built in 1998. The property sits at the entry to the Port St. Lucie Commerce Park across from the New York Mets Spring Training facility.
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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.
