NorthMarq Capital’s Los Angeles office finalizes $8 million refinance for Sunnyslope Shopping Center in Salem, Oregon
Sunnyslope Shopping Center
LOS ANGELES (November 16, 2015) – Michael T. Elmore, executive vice president/managing director and Mark Dodson, vice president of NorthMarq Capital’s Los Angeles office negotiated the $8 million refinance for Sunnyslope Shopping Center, a 93,861 sq.ft. retail property located at 4405-4555 Liberty Road South in Salem, Oregon. The transaction was structured with a 10-year term with a five-year interest only period followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Roth’s Fresh Markets represents the property’s major tenant. “NorthMarq’s Los Angeles office has a long-standing relationship with the borrower and has arranged financing on this property for the third time. On this occasion, we were able to meet the client's goals to refinance with five years interest-only, with substantial cash-out proceeds and a large-funded escrow for a short-term major tenant,” said Elmore.
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.
