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