NorthMarq Capital’s Tampa office finalizes $5.25 million refinance of a 55+ MHP in DeBary, Florida
TAMPA (December 11, 2018) –NorthMarq Capital’s Tampa regional office arranged the $5.25 million refinance of Highland Country Estates, a 55+ age manufactured housing property consisting of 235-units (27.67 acres) and located at 830 North Charles Richard Beall Boulevard in DeBary, Florida. The permanent-fixed loan was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“The request was for a very low-leverage loan and our correspondent life company won the deal with a very favorable interest rate,” noted Bob Hernandez, senior vice president/managing director of the Tampa office.
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.
