Shari Stults, vice president of NorthMarq Capital’s Phoenix-based regional office, arranged acquisition financing of $5.2 million for Ahwatukee 48, an 87,772 sq. ft. office/warehouse property located at 15905-15915 S. 46th St., 15920-15930 S. 48th St. in Phoenix.
The transaction was structured with a 20-year term and 25-year amortization schedule.
NorthMarq arranged financing through its correspondent relationship with Ohio National. Keller Williams Desert Foothills Realty and Synaptics, Inc. are the property’s major tenants.
“We continue to see rent growth and strong occupancy levels in the office/warehouse/flex sectors, and this is a high quality project with excellent access.” said Stults. “Ohio National offered attractive terms on the low-leverage loan and a fast, seamless underwriting and closing process to meet critical deadlines.”