The loan is to benefit DRS Optronics, in Melbourne.
DRS Optronics occupies the building and the loan proceeds will be used to renovate the original building and expand. The expansion will practically double up the current space to a total of 281,458 sf.
Sutton Properties is the borrower with terms of financing based on an 18 month interest-only loan which will be followed by a 42 month extension.
Northmarq Capital has one of their many offices at 1 Tampa City Center, in Tampa Bay.
"Florida Commercial Real Estate" has plenty of fantastic deals.
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