NorthMarq Capital’s Phoenix office finalizes $2,345,000 refinance of The Devonshire Shops in Salem, Oregon

The Devonshire Shops
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PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office, arranged the $2.345 million refinance of The Devonshire Shops, a 12,147 sq. ft. retail property located at 3815 Devonshire Avenue in Salem, Oregon. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a conduit CMBS lender. Payless ShoeSource and Game Stop represent the property’s major tenants.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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