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 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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
