DENVER (March 16, 2015) – NorthMarq Capital’s Denver office arranged a $2.1 million permanent 10-year loan for Lambertson Lakes Shopping Center, Phase I, located at 871-887 Thornton Parkway in Thornton, Colorado. Constructed in 2004, the inline retail center totals 13,465 sq.ft. and is shadow-anchored by a 55,000 square foot Safeway grocery store (not part of the collateral).
Steve Bye, executive vice president/senior managing director and Brian Fisher, investment analyst, arranged the refinancing for the borrower, a long-term client of the Denver office.
Bye added the following comments about the financing assignment: “The property was financed via a CMBS loan, which enabled the borrower to obtain a 30 year amortization on a non-recourse basis. The proceeds, which were based upon a 75 percent loan-to-value ratio, enabled the borrower to monetize equity that had been created over many years.”