LOS ANGELES (April 17, 2015) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles based regional office arranged the $7.3 million refinance of Centennial Court Shopping Center, a 36,740 sq.ft. unanchored shopping center located on North Buffalo Drive in Las Vegas, Nevada. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, PHD Properties, through its conduit relationship with a CMBS lender. Major tenants include Taco Bell and Leslie’s Poolmart.
“We had a very tight window for execution owning to a maturing loan,” commented Dodson. “The lender was very comfortable with the real estate and long-term tenant base and all parties were able to work quickly.”