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DAYTONA BEACH, FL-Although only 70% leased at funding, Minneapolis-based NorthMarq Capital Inc. arranged a 10-year, $21.9-million first mortgage with Citigroup’s Global Markets division for Bellair Plaza Ltd., owner of the newly renovated, 346,000-sf shopping center here.

The loan is being amortized on a 30-year schedule. Among the center’s tenants are Walgreen’s, Publix Supermarkets Inc. and Beall’s Department Stores Inc. David Schofield, senior vice president and managing director in the Orlando regional office of NorthMarq, brokered the transaction.

NorthMarq has 28 regional offices, provides $6.5 billion in annual transactional volume and services a loan portfolio of $21 billion, according to Schofield. NorthMarq also provides real estate investment consulting services for public and private clients nationally through its consulting group, NorthMarq Advisors LLC.

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