Northmarq arranges $6.5M financing for grocery-anchored shopping center in Las Vegas
Photo credit: CoStar
LAS VEGAS — Northmarq’s Newport Beach Debt + Equity team led by Joe Giordani and Matt Radich arranged the $6.5 million internal refinancing of Bonanza Square Shopping Center, a 106,855-square-foot grocery-anchored retail center located at 2400 E. Bonanza Road in Las Vegas, Nevada.
Northmarq arranged financing on behalf of the borrower, Connolly Investments, through a correspondent relationship with Barclays Capital.
"Necessity-based, grocery-anchored retail remains one of the most sought-after asset classes for fixed-rate lenders right now,” Radich said. “We delivered a 10-year fixed-rate execution with full-term interest-only payments. The structure was built to maximize cash flow and reflect the strength of the center's tenancy."
Situated at the busy intersection of East Bonanza Road and North Eastern Avenue, Bonanza Square Shopping Center is well positioned to serve the East Las Vegas community, offering a diverse mix of tenants, including a grocery store, barbershop and dining options.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
