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.”
Retail -
Debt
