PHOENIX – James DuMars, svp/managing director of NorthMarq Capital's Phoenix-based regional office, and Michael Elmore, svp/managing director of NorthMarq’s Los Angeles office, cooperated to arrange first mortgage refinancing of $17.15 million for Pinnacle Peak Commerceplex I, a 302,254 sq. ft. warehouse distribution property located in Phoenix, Arizona. Financing was based on a 10-year term and a 27-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “The lender was flexible in providing the borrower with a very low loan spread and substantial cash flow for reinvestment from loan proceeds,” DuMars and Elmore said.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.