Phoenix — James V. DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office, has arranged the $23 million refinance of Foothills Park Pace, a 132,496-square-foot retail property in Phoenix.
The property is located at the intersection of the Ahwatukee Foothills Community, an affluent bedroom community in southeastern Phoenix.
“The asset was pursued aggressively by life companies and CMBS lenders,” said DuMars. “Due to the low leverage request, the borrower elected a CMBS option that provided extremely attractive loan terms. This is a refinance of a loan arranged for the owner 10 years ago.”