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1/12/16
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Newmark Realty Capital Inc. has arranged $53.5 mil in permanent financing for Scottsdale Fiesta, a 494k sf retail center in Scottsdale, AZ. Located off Loop 101 at Shea Blvd, the Fry’s Signature and Home Depot-anchored center features a strong lineup of national and credit retail tenants. According to local retail brokers, Scottsdale Fiesta is one of the top retail centers in Arizona.
Newmark’s Mark Ritchie, Adam Parker, Amit Tyagi and Armen Hadjimanoukian arranged the fixed-rate, non-recourse financing for the borrower. The 12-year term, 30-year amortization loan was placed with one of Newmark’s correspondent life insurance company lenders.
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