January 15, 2013

NorthMarq Capital arranged $8.7 million mortgage for Maryland Park Place in Las Vegas, Nevada

Maryland Park Place

Debt & Equity

Multi-Tenant

LAS VEGAS (January 15, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, and in cooperation with Thomas Powell and Marcy Olson of NorthMarq’s Las Vegas office (Nevada Licenses: 3738/48816/28910) arranged first mortgage refinancing of $8.7 million for Maryland Park Place, a 95,247 sq. ft. retail property located at 1155 E. Twain Avenue in Las Vegas, Nevada. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “The lender worked through locational, rollover, title and other issues to close the loan in 40 days,” Elmore said. “The borrower needed to close on a specific date to avoid substantial interest penalties.”

Available Retail (MT) properties

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.