NorthMarq Capital arranges $10.5 million in acquisition financing for Palm Valley Office Park I & II in Goodyear, Arizona

PHOENIX – NorthMarq Capital’s Phoenix based regional office, secured $10.5 million in acquisition financing for Palm Valley Office Park I & II, located at 1616 & 1646 North Litchfield Road in Goodyear, Arizona. These two class “A” office buildings contain a combined 83,971 sq.ft. The transaction was structured with a 5-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The buildings were acquired by K2H Palm Valley LLC, a company formed by Kootenay Holdings Ltd. in Vancouver, B.C., Canada. This exceptional asset features an ideal, diverse tenant mix,” said Stults. “The strong characteristics of the deal are an indication of the improving office market conditions in the Phoenix metro. I am pleased to have provided attractive life company financing for my clients; everyone involved worked tirelessly to successfully meet tight closing deadlines.”