May 28, 2019
CBRE arranged $40.4 million in debt financing for four multi-tenant retail centers located in metro Phoenix and Las Vegas. The borrower is an institutional client of CenterSquare Investment Management.
Bruce Francis, Dana Summers, Robert Ybarra, Shaun Moothart and Doug Birrell of CBRE, Debt & Structured Finance arranged the 10-year loan and full-term interest-only for the borrower. The loan includes the ability to add, release or substitute properties to the portfolio over the next 12 to 18 months.
The Metro Phoenix properties include Shoppes at Rogers Ranch, located at the northeast corner of 51st Avenue and Baseline Road in Laveen, AZ, and Lake Pleasant Crossing, located at 25101 & 25225 N. Lake Pleasant Pkwy. and 9710 W. Happy Valley Rd. in Peoria, AZ.
The Las Vegas properties are Blue Diamond Marketplace, located at 8030-8180 Blue Diamond Rd. and Cannery Corner, located at 2520-2760 E. Craig Rd.
For comments, questions or concerns, please contact Dennis Kaiser