NorthMarq Capital arranged $3.75 million mortgage for Blue Sky Airport Parking Facility in Phoenix, Arizona
Blue Sky Airport Parking Facility
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital's Phoenix regional office, and Eric Flyckt, svp/managing director of NorthMarq’s San Diego office, cooperated to arrange first mortgage refinancing of $3.75 million for Blue Sky Airport Parking Facility located at 3025 S. 48th Street (48th Street & University Drive) in Phoenix, Arizona. This asset is situated on 13.156 acres with 1,542 parking spots, of which 1,082 are covered. Financing was based on a 5-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a regional bank.
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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.
