Northmarq arranges $22M cashout refinance for Chandler Freeway Crossing, Class A Office Building
CHANDLER, Ariz. — Northmarq’s Newport Beach Debt + Equity deal team led by Scott Botsford and Joe Giordani secured $22 million in financing for a Class A 157,227-square-foot office building, built in 2019, and located at 2625 W. Geronimo Pl. in Chandler, Arizona.
Northmarq arranged financing on behalf of the borrower, Mark IV Capital, through a correspondent life company relationship. The loan was structured with cash-out proceeds and an initial seven-year term. After the initial seven-year term, the borrower has the flexibility to prepay the loan at par or reset the rate at market and extend the loan at no additional cost.
“Strong lender relationships are especially critical in today’s office market,” said Botsford. “This transaction involved a high-quality sponsor and a well-positioned Class A office asset, and it required a lending partner willing to look beyond the broader office headlines to see the strength of the asset, improving sub-market trends, and Mark IV’s proven track record. We’re proud to have successfully completed the transaction and achieved a great outcome.”
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.
