NorthMarq’s Bob Hernandez arranges acquisition financing for assumption plus supplemental loan of $36,554,288 for multifamily in Lakeland, Florida
TAMPA, FLORIDA (January 15, 2019) – Bob Hernandez, senior vice president/managing director of NorthMarq’s Tampa-based regional office secured assumption and supplemental financing of $36,554,288 for Century Ariva Apartments. The 312-unit conventional-market multifamily property is located at 5190 Ariva Boulevard in Lakeland, Florida. The transaction was structured with a 9-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“This was an acquisition financing involving an assumption of the existing loan with supplemental financing,” said Hernandez.
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.
