SCOTTSDALE, ARIZ. — CBRE has arranged $45.8 million loan for refinancing for Scottsdale Towne Center, a retail center located at 15444 N. Frank Lloyd Wright Blvd. in Scottsdale. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo with CBRE Capital Markets’ Debt and Structured Finance secured a 5-year fixed, full-term interest-only loan on behalf of the client.
The 168,090-square-foot retail center is nearly 100 percent leased, with current tenants including TJ Maxx, Ross and Mountainside Fitness. Additionally, the property is shadow-anchored by Target. The undisclosed sponsor acquired Scottsdale Towne Center in 2021 and subsequently leased a previously vacant 50,000-square-foot space to Mountainside Fitness’ flagship location.