NorthMarq Capital’s Robert Hernandez arranges $4 million refinance of Lithia Square in Brandon, Florida
TAMPA (February 3, 2017) – Robert Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office, finalized the $4 million refinance of Lithia Square, a 69,007 sq. ft. grocery-anchored retail property located at 901-927 Lithia Pinecrest Road in Brandon, Florida. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national CMBS lender. Walmart is on a ground lease and owns their own building. “The Walmart ground lease and low-leverage allowed the lender to provide funding despite the vacancy in local space,” 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.
