ROCHESTER (September 26, 2018) – Derek Carroll, senior vice president/senior director of NorthMarq Capital’s Rochester regional office, secured the $73 million refinance of an award winning resort and spa located near Scottsdale, Arizona. NorthMarq arranged financing for the borrower through its relationship with an international bank. The permanent-fixed loan was structured with a 5-year term on a 30-year amortization schedule.
Spa amenities on the property include: heated swimming pool, a labyrinth designed for meditation, detoxifying steam and spa rooms, a fitness center Hotel amenities include: home-style villas and luxury haciendas, 50,000 sq. ft. of meeting/event space, on-site recreational and adventure activities, two Jay Morrish-designed championship golf courses and a golf academy, four swimming pools, several restaurants, lounges and cafés, a private heli-pad and eco-friendly operating standards.
“In addition to a number of highly competitive fixed rate options, we were able to offer multiple mezzanine finance options. Ultimately, they were not needed due to the competitiveness of the senior lender,” said Carroll