NorthMarq Capital arranged $2.5 Million Mortgage for Airpark Home Center in Scottsdale, AZ
Airpark Home Center
PHOENIX – NorthMarq Capital's Phoenix regional office, arranged first mortgage refinancing of $2.5 million for Airpark Home Center located at 8355 East Butherus Drive in Scottsdale, Arizona. This asset is a multi-tenant industrial flex building with approximately 50% of showroom/office space and 50% warehouse space. The major tenant at the site is Hughes Supply, a provider of complete lines of residential, commercial, and decorative showroom plumbing supplies from leading manufacturers. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “This is a high quality building in a great location near Costco, and it has a solid tenant base with a strong orientation towards upscale home improvements,” Stults said. “We were pleased to arrange attractive, flexible, fixed-rate and non-recourse financing on this asset.”
Meet our team
About Northmarq
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.
