David Garfinkel, senior vice president/managing director of NorthMarq’s St. Louis office, secured financing for three retail properties in Tacoma, Washington; St. Louis Park, Minnesota; and Fishers, Indiana. Financing for all three properties was arranged for a long-term, repeat borrower relationship.
Tacoma Central: NorthMarq arranged acquisition financing of $19.5 million for Tacoma Central. The 111,611-square-foot retail property is located at 2323 & 2421 South Union Ave. and 3202-3330 South 23rd St. in Tacoma, Washington. The subject was 97-percent leased to 21 tenants at the time of this closing.
Park Place Plaza: NorthMarq secured acquisition financing of $18.3 million for Park Place Plaza. The 87,975-square-foot retail property is located at 5699 West 16th St.; 1620 and 1650 Park Place Blvd.; 5600, 5620, 5640 and 5680 Cedar Lake Road in St. Louis Park, Minnesota. The subject consists of four multi-tenant retail buildings. The property was 100-percent leased at the time of the closing. Major tenants include PetSmart and Office Depot. The transaction was structured with a 10-year term on a 25-year amortization schedule.
Fishers Gateway Shops: NorthMarq finalized the $4.8 million refinance of Fishers Gateway Shops. The 21,330-square-foot property is located at 9001 East 116th St. in Fishers, Indiana. The subject consists of a multi-tenant neighborhood shopping center. The subject was 100 percent leased at the time of the closing. The transaction was structured with a 10-year term on a 25-year amortization schedule.