PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix office arranged financing on seven shadow-anchored retail properties totaling $43 million. The class “A” assets are located in Arizona and Texas and include Fry’s Marketplace, (Kroger), Target and Albertsons as the shadow anchors. NorthMarq arranged the financing through its relationship with an institutional lender. The borrower, Barclay Group, is a national development firm who has developed more than 100 retail centers. Over the years DuMars has assisted Barclay with nearly $200 Million in permanent financing transactions.
“Barclay Group wanted to take advantage of the historically low interest rates and lock in long term,” said DuMars. “Furthermore, there were many suitors for these strong performing centers backed up by a premier developer such as Barclay Group.”