NorthMarq Capital arranged $8.7 million mortgage for Maryland Park Place in Las Vegas, Nevada
Maryland Park Place
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.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
