Newmark Secures $151M in Financing for 30-Property Industrial Portfolio in Arizona
PHOENIX — Newmark has secured $151 million in financing for a 30-property industrial portfolio in Arizona. The portfolio contains more than 4 million square feet of space occupied by more than 1,000 tenants.
The 15-year non-recourse loan features a rate below 4 percent. The portfolio is a mix of light industrial / manufacturing buildings with small to medium bay depths. The properties are located in Phoenix, Tempe, Mesa, Chandler, Gilbert, Glendale, Goodyear, Surprise and Peoria. Voya provided the permanent financing.