"Key Bank liked the location and the limited development rightsand barriers of entry associated with that part of Sarasota," saysBruce Whipple, NorthMarq's vice president in the Westchester, NYoffice. Joel Coykendall, senior vice president in the firm'sJacksonville regional office, worked with Whipple on arranging theloan.
The three-year, interest-only loan has extension options. Theinterest rate range and the options were not disclosed. The28-office NorthMarq Capital firm posts an average $8 billion inannual transactional volume and services a loan portfolio of $24billion.
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