NorthMarq Capital arranges $13 million refinance of 19th & Pinnacle Peak Commerceplex in Phoenix, Arizona
19th & Pinnacle Peak
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based office and Michael Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles based office arranged refinancing of $13 million for 19th & Pinnacle Peak Commerceplex – Phase II, a 186,286 sq.ft. warehouse/distribution center located at 23610 and 23620 North 20th Drive in Phoenix, Arizona. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Thrivent Financial. “This is a 20 year relationship. The lender was flexible in providing the repeat borrower with a competitive long term fixed interest rate and substantial cash flow for reinvestment from loan proceeds. After a record 2014, Thrivent is actively seeking additional lending opportunities on industrial and office properties,” said DuMars.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
