Brian Teske, vice president of NorthMarq Capital’s Phoenix based office secured the $1 million refinance of the Chandler Plaza, a 6,900 sq.ft. retail property located at 1050 W. Chandler Boulevard in Chandler, Ariz.
The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional Credit Union. Filbertos and Sweeties Candy of Arizona represent the property’s major tenants.
“The borrower was looking for an interest rate in the low four percent range with a 30-year amortization and no pre-payment penalty,” explained Teske. “We were able to get this done through a California based credit union since the borrower resides in LA.”