NorthMarq Capital’s Los Angeles office secures $2.5 million refinance of Shops at Wal-Mart in Paradise, Nevada

LOS ANGELES (September 14, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles office arranged the $2.5 million refinance of Shops at Walmart, a 7,683 sq. ft. retail property located at 440 East Silverado Ranch Boulevard in Paradise, Nevada. The transaction was structured with a 10-year term with 5-years interest-only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The borrower had a maturing CMBS loan and was focused on improving his cash flow,” said Dodson. “Through our relationship with the lender, we were able to secure him a lower interest rate with 5 years of interest-only payments to accomplish that goal.” The property is an outparcel to a Walmart Neighborhood Market on the northeast corner of East Silverado Ranch Boulevard and Bermuda Road. It is located in a a residential neighborhood five miles south of McCarran International Airport and seven miles from the Las Vegas Strip. Major tenants at the property include Wells Fargo Bank and El Pollo Loco. Scott Monroe, senior vice president of NorthMarq Capital’s Las Vegas office, collaborated on the loan.