NorthMarq Capital arranged $17.15 million mortgage for Pinnacle Peak Commerceplex I in Phoenix, Arizona
Pinnacle Peak Commerceplex I
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.
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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.
