NorthMarq’s Jordan Johnson arranges acquisition/construction financing of $2.175 million for Southern Highlands Marketplace Pad

Southern Highlands Marketplace Pad

Debt & Equity

Multi-Tenant

LAS VEGAS (May 18, 2018) – Jordan Johnson, vice president of NorthMarq Capital’s Las Vegas office arranged acquisition/construction financing of $2.175 million for Southern Highlands Marketplace Pad, a 6,560 sq. ft. retail property located at 10600 Southern Highlands Parkway in Las Vegas, Nevada. The high leverage transaction was structured with a 1-year interest only term. Verizon, Baskin Robbins and Tropical Smoothie represent the property’s major tenant. “NorthMarq was able to place a high leverage construction loan (85%+) for the development of a mixed-use pad site,” explained Johnson. “The pad was 100% pre-leased prior to closing of the construction loan. This option presented the borrower with control of the deal as they didn’t have to find a mezzanine or equity component to close on the land in their short time period to close the deal.”

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About Northmarq

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.