NorthMarq Capital - Atrium

NorthMarq Capital Arranges $6M Mortgage For Scottsdale Atrium

Shari Stults, vice president of the NorthMarq Capital Phoenix Regional office, arranged first mortgage refinancing of $6M for Scottsdale Atrium Professional Building, 14300 N. Northsight Blvd., in Scottsdale.

The two-story, 71,516 SF multi-tenant office building was designed to be and is occupied by small to medium tenants. The average tenant size is 1,300 SF. Financing was based on a 2-year interest-only term and was arranged for the borrower by NorthMarq Capital through its relationship with a correspondent life insurance lender.

“The borrowers were very pleased that our correspondent life insurance company structured a flexible, non-recourse, interest-only loan,” Stults said. “Everyone worked together to meet critical deadlines as well, resulting in a successful loan closing on a tremendous asset.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S.

For more information on NorthMarq Capital, please visit northmarq.com.

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