January 28, 2013

NorthMarq Capital arranged $4.21 million mortgage for Vistoso Park in Oro Valley, Arizona

Vistoso Park

Debt & Equity

Multi-Tenant

PHOENIX – NorthMarq Capital's Phoenix-based regional office arranged first mortgage refinancing of $4.21 million for Vistoso Park, a 46,157 sq. ft. shadow-anchored retail center located in Oro Valley, Arizona. The center is occupied by local credit tenants shadowed to a Safeway. Financing was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a life company lender. The property had a considerable amount of near term lease roll that made it difficult for most lenders to underwrite. The lender was able to get comfortable given that most tenants had been in the property for 10 years and the borrower had 50 percent cash equity in the transaction. “The lender was terrific,” said Cooper. “They worked through all of the tenant rollover issues and several last minute changes in the borrower structure.”

Available Retail (MT) properties

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.