CBRE arranges refinancing on $45.8M loan for Scottsdale Towne Center

CBRE has arranged a $45.8 million refinancing for Scottsdale Towne Center, a 168,090-square-foot retail center located at 15444 North Frank Lloyd Wright Blvd.

Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo with CBRE Capital Markets’ Debt and Structured Finance practice secured a 5-year fixed, full-term interest-only loan on behalf of their client, according to a press release.

“This loan on a shadow-anchored center signals that life company balance sheets have strong conviction in this asset type again, especially in core markets like Scottsdale,” Moothart, executive vice president at CBRE, said in the release.

Scottsdale Towne Center is nearly 100% leased and is anchored by TJ Maxx, Ross and Mountainside Fitness. It is shadow-anchored by Target.

The center is located within Scottsdale Airpark.