SCOTTSDALE, ARIZ. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a retail center located at 15444 N. Frank Lloyd Wright Blvd. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo with CBRE Capital Markets’ Debt and Structured Finance secured the five-year interest-only, fixed-rate loan on behalf of the undisclosed owner.
The 168,090-square-foot retail center was nearly 100 percent leased at the time of the loan closing, with current tenants including T.J. Maxx, Ross Dress for Less and Mountainside Fitness. Additionally, the property is shadow-anchored by Target. The sponsor acquired Scottsdale Towne Center in 2021 and subsequently leased a previously vacant 50,000-square-foot space to Mountainside Fitness’ for a flagship location.