Chandler, Ariz. — JLL Capital Markets has arranged $73.3 million in permanent financing for two shopping centers totaling 616,639 square feet in the Phoenix suburb of Chandler. The first property, Chandler Festival, spans 354,548 square feet and features a mix of tenants including T.J. Maxx, Ross Dress for Less, Nordstrom Rack and PetSmart. The second property, Chandler Gateway, encompasses 262,091 square feet and is anchored by Walmart and Hobby Lobby.
Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten of JLL arranged the five-year, fixed-rate loans on behalf of the borrower, a joint venture managed by a real estate investment trust, through a national bank. The financing was structured as one loan secured by two mortgages, which included $51 million for Chandler Festival and $22.3 million for Chandler Gateway.