NorthMarq Capital’s Tampa office arranges $10.35 million refinance of Publix Market Square in Gainesville, Florida
TAMPA (August 15, 2016) – Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa-based regional office finalized the $10.35 million refinance of Publix Market Square, a 71,007 sq. ft. retail property located at 2625-2835 Southwest 91st Street in Gainesville, Florida. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Mega A, LLC, through its relationship with a correspondent life insurance company. Publix is the property’s major tenant. “The lender did an excellent job of structuring the transaction to allow an earn-out once the dark space was re-tenanted,” 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.
