NorthMarq Capital’s Phoenix office secures $5.01 million refinance of Mountainside Crossing in Peoria, Arizona
Mountainside Crossing
PHOENIX – James DuMars, managing director/senior vice president of NorthMarq Capital’s Phoenix-based regional office arranged the $5.01 million refinance of Mountainside Crossing, a 25,143 sq. ft. shadow-anchored retail property located at 9785, 9811 and 9815 West Happy Valley Road in Peoria, Arizona. The transaction was structured with a 10-year term with 2-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Mattress Firm represents the property’s major tenant.
“We were able to close the loan with two years interest-only at a sub-five percent rate in a turbulent CMBS environment,” noted DuMars.
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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.
