James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office, and Dennis Williams, senior vice president/managing director of NorthMarq Capital’s San Francisco-based regional office arranged a $14.8 million loan on the refinance of Seville Professional Center, an approximately 92,000 sq. ft. multi-tenant office building in Scottsdale, Arizona. The transaction was structured with a 12-month term, interest-only, and two, 12-month extension options. NorthMarq arranged financing for the borrower through its relationship with a bridge-lender.
“The client needed a bridge solution to accommodate their CMBS loan maturity. We were able to tap our existing lending relationships and close in 10 days,” said DuMars.