NorthMarq’s Jordan Johnson arranges acquisition/construction financing of $2.175 million for Southern Highlands Marketplace Pad
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.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
