NorthMarq Capital Secures $40.7M in Financing for Three Properties in Florida
TAMPA, FLA. — NorthMarq Capital has arranged $40.7 million in financing for a seniors housing property, apartment community and a shopping center in Florida. The properties include Twin Creeks Assisted Living, a 96-bed seniors housing property under construction in Riverview; Lakehouse Luxury Apartments, a 125-unit apartment property located at 3003 S. Frontage Road in Plant City; and Publix at Summerfield Crossings, a 69,917-square-foot shopping center located at 13146 U.S. Highway 301 South in Riverview. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the loans. The financing included a three-year, $14.2 million, interest-only construction loan for the Twin Creeks property on behalf of the borrower, Lithia Assisted Living LLC; a 10-year, $12.5 million, Fannie Mae loan with a 30-year amortization schedule for the refinancing of Lakehouse Luxury Apartments on behalf of Lakeside Gardens of Plant City LLC; and a 10-year, $14 million loan with a 30-year amortization schedule for the refinancing of Publix at Summerfield Crossings on behalf of the borrower, Big Bend Group LLC.