Office - Debt

NorthMarq Capital arranges acquisition financing of $25.5 million for One South Church in Tucson, Arizona

PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix regional office arranged acquisition financing of $25.5 million for One South Church, a 240,811 sq. ft. office property located at 1 South Church Avenue in Tucson, Arizona. The transaction was structured with a 3-year interest only term.

The property is prominently located on the Sun Link Streetcar route within the heart of downtown Tucson, Arizona. This 23-story tower is leased to a mix of high quality tenants including several of the most notable law firms in the western United States. As the tallest building in Tucson, the One South Church infill location offers a first class business environment and is within walking distance to numerous downtown amenities.

“This value-add, CBD office transaction required bridge financing with a 30-day close,” said DuMars. “NorthMarq, through its diverse source of capital partners, arranged a competitive array of options for the borrower, advised to the best option in the market and worked to close the loan on a very tight schedule.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.