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