Arranged $5.6 Million Mortgage for Troutdale Commons in Troutdale, Oregon
Troutdale Commons S/C
SEATTLE (March 11, 2013) Bob Spiro, senior vice president and managing director of NorthMarq’s Seattle regional office, arranged first mortgage refinancing of $5.6 million for Troutdale Commons, a 39,388 sq. ft. grocery anchored shopping center located in Troutdale, Oregon. Albertson’s, Starbucks and Walgreens are major tenants at the site. Financing was based on a 15-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “Albertson’s owned their own store and the borrower had inline space and a free-standing drive-thru Walgreens as our security,” said Spiro. “Our client got a low rate fixed for 15 years with one of our correspondent life companies and the lender got a high quality asset with lower leverage and a 20-year amortization – a win-win transaction.”
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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.
