Dealmaker: NorthMarq Capital Arranges $97M

NorthMarq Capital, Omaha, Neb., arranged $96.5 million in debt and equity for office, industrial and multifamily assets in Nebraska and Florida.

In Omaha, NorthMarq Senior Vice President Bob Chalupa arranged $17.5 million to refinance Linden Place I and II, a 154,775-square-foot Class A office property. The 15-year fixed-rate loan included a 25-year amortization schedule with some prepayment flexibility in the later years.

A life insurance company supplied the non-recourse loan with no escrows or reserves required. “It was a typical life company execution, early rate lock at application, and closed as quoted with no surprises,” Chalupa said.

NorthMarq Managing Director Robert Hernandez and Vice President Lauren Hanley also arranged a $24 million 11-year self-liquidating loan that refinanced a 311,280-square-foot office/manufacturing property in Melbourne, Fla. Property tenant Leonardo DRS Inc. develops mission-critical products that support military forces and intelligence agencies.

Also in Florida, NorthMarq’s Tampa and Orlando regional offices collaborated to arrange $55 million in construction financing and joint venture equity for the Residences at Dania Pointe in Dania Beach, 24 miles north of Miami.

Lee Weaver, Senior Vice President in the firm’s Tampa office, and Melissa Marcolini-Quinn, Senior Vice President in NorthMarq’s Orlando office, secured a $35 million construction loan and $20 million in joint venture equity for the 260-unit multifamily property under construction on South Bryan Road. A regional bank supplied a five-year loan with a 25-year amortization schedule and a Florida-based investment firm provided the joint venture equity.

The Residences at Dania Pointe will occupy the middle of the region’s newest, open-air lifestyle community featuring more than one million square feet of retail, restaurant, office and hospitality uses.