NorthMarq's Seattle office arranged $20 million mortgage for Grocery/Drug Anchored Shopping Center in Spokane, Washington
Grocery/Drug Anchored S/C
SEATTLE (July 10, 2013) – Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle regional office, arranged first mortgage refinancing of $20 million for a grocery/drug anchored shopping center located in Spokane, Washington. The property contains over 250,000 sq. ft. of retail space. NorthMarq arranged this financing for the borrower through its relationship with a life company lender. “This was a transaction that received strong interest from a number of insurance companies and CMBS lenders,” Oswald said. “We were very pleased to have found a portfolio lender who provided competitive pricing and a creative structure that worked for the ownership group which plans to own the asset for a number of years.”
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