NorthMarq Capital arranges $3,450,000 permanent loan for Aztec Square Shopping Center in Fort Mohave, Arizona
DENVER (December 15, 2015) – NorthMarq Capital’s Denver office arranged a permanent loan of $3.45 million for Aztec Square Shopping Center located at 4821 and 4825 Highway 95 in Fort Mohave, Arizona. The center, constructed in 1998 and 1999, totals 25,905 sq. ft. and is shadow-anchored by a 55,250 sq. ft. Safeway grocery store. The collateral is split into two buildings – Building A is 11,668 sq. ft. to the southeast of Safeway and Building B is 14,237 sq. ft. to the northwest. The tenant mix consists of a combination of local and national credit tenants. Steve Bye, executive vice president and senior managing director and Conor McCahill, investment analyst arranged the refinancing for the borrower, a long-term client of the Denver office. “The non-recourse loan was arranged with a CMBS lender for a 10-year fixed rate term and a 30-year amortization schedule. The loan-amount was based upon 75% of appraised value,” said Bye.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
