CBRE Arranges $45.8 Million Refinance Loan For Scottsdale Towne Center Retail Property

Scottsdale Towne Center is a retail asset located at 15444 North Frank Lloyd Wright Boulevard in Scottsdale, Arizona. The property encompasses a total square footage of 168,090 and is nearly fully leased, featuring tenants such as T.J. Maxx, Ross Dress for Less, and Mountainside Fitness. The center is shadow-anchored by Target. The owner acquired the property in 2021, filling a previously vacant 50,000-square-foot space with Mountainside Fitness.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $45,800,000
• Loan Type: Refinance
• Loan Terms: 5-year
• Brokers: Shaun Moothart, Bruce Francis, Doug Birrell, Robert Ybarra & Nick Santangelo - CBRE

CBRE arranged a refinance for the property, resulting in a fixed-rate, interest-only loan amounting to $45.8 million. The involvement of multiple brokers from CBRE highlights the collaborative effort in securing the financing for the retail center.