NorthMarq Capital arranges $8.9 million refinance of retail plaza in Boca Raton, Florida
MIAMI (January 11, 2016) – Jordan Hopkins, vice president of NorthMarq Capital’s Miami-based regional office finalized the $8.9 million refinance of Village Plaza, a 34,862 sq. ft. retail property located at 690-698, 710 & 714 Yamato Road in Boca Raton, Florida. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Major tenants include: Starbucks, AT&T, Subway, Supercuts, McDonalds and Chase. “This was a trophy asset in a great location with a good mix of credit and local tenants,” said Hopkins. “We were able to take advantage of the volatile treasury yields and secure an aggressive rate on a non-recourse basis for a 10-year term to meet the borrower’s requirements.”
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.
