NorthMarq Capital arranges $3,450,000 permanent loan for Aztec Square Shopping Center in Fort Mohave, Arizona
Aztec Square Shopping Center
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.
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.
