NorthMarq Capital arranges $4.7 million refinancing for Cottonwood Square in Niwot, Colorado
Cottonwood Square
DENVER (December 15, 2015) – NorthMarq Capital’s Denver office arranged a $4.7 million permanent loan for Cottonwood Square Shopping Center located at 7960 Niwot Road in Niwot, Colorado. Constructed between 1972 and 1999, the five building, 41,264 sq. ft. property, also includes a two-story, multi-tenant office building totaling 14,658 sq. ft. The property is 97 percent leased to 31 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. “It was important for the borrower to obtain a non-recourse loan for a term of 10 years with interest-only payments for three years, followed by a 30-year amortization period. The loan was arranged with a CMBS lending source,” 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.
