Hospitality - Debt

NorthMarq Capital

NorthMarq Capital’s Rochester office arranges $73 million refinance for Arizona-based resort and spa

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

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.