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7/08/24
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The Haagen Company obtained a $29.2 mil permanent loan to refinance Goodyear Centerpointe, a 320k sf retail power center in Goodyear, AZ, a suburb of Phoenix. The center, located at 15277-15475 W. McDowell Rd, features an inline anchor building, two out-parcel buildings and a series of free-standing pad sites.
Major tenants at Goodyear Centerpointe include Conn’s Appliances, EOS Fitness, Urban Air, Hobby Lobby, Turner’s Outdoorsman, Goodwill Industries and a wide range of casual restaurant, fast food, and professional services tenants including optometry and beauty.
Braden Turnbull, Patrick Barkley, Chad Metzger and Alicia Sabanero with Gantry arranged the 20-year, fixed rate loan through a life insurance company. The loan terms included a 20-year amortization and a prepayment stepdown after 10-years.
According to Turnbull, the assignment required them to refinance the property with a new loan that would meet an evolving plan for a legacy hold. The desired loan also needed to provide a return on capital, reflecting the asset’s increased value from nearly a decade of successful operations.
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