The largest deal is a permanent loan of $6.9 million for the 133,108-sf Brentwood Shopping Center at 1951-2209 S. Federal Blvd. MacFrugals and Rent-A-Center are tenants in the 48-year-old center. Kevin Chadwick, assistant vice president of Northland/Marquette, has arranged the loan on behalf of Brentwood Shopping Center LLC and Mill Creek Properties LLC.
In the second largest deal, Steve Bye, the group's executive vice president and senior managing director, has arranged a $4.5-million permanent loan for a Bi-Lo grocery store in Fayetteville, NC. The grocery store, completed last year, has 45,353 sf on 4.33 acres. The financing has been arranged on behalf of the buyers, Colorado-based Arsenault Investments VI LLC, Independence Square LLC and Erin Jellel Collins Arsenault Trust as tenants-in-common. All are affiliated with Colorado and Santa Fe Land Co., headed by Marcel Arsenault.
Arsenault has been one of the most active commercial real estate investors in the Denver-area for about 20 years. But as the Denver-area market has improved, he's increasingly shopping for real estate outside of Colorado.
In other deals,Gordon Mickelson, Northland's senior vice president, has arranged a $5.5-million permanent loan for the 121,141-sf, three-building office/warehouse complex in Colorado Springs known as the Springs Business Park at 4405, 4425 and 4435 North Chestnut St., Colorado Springs. Also, Chadwick and Jon Krieger, managing director and senior vice president of Northland's Phoenix regional office, have put together a $2.4-million permanent loan for the 68-room Comfort Inn in Louisville, CO. Chadwick also has arranged $1.05 million in permanent financing for a 2,940-sf 7-Eleven at 4500 Peoria St., Denver. The financing has been arranged on behalf of Roslin Net Lease LLC.
In 1998, Marquette Bancshares Inc had purchased Northland/Marquette. It is a national real estate investment banker providing mortgage financing for commercial real estate, including offices, retail, industrial and multifamily projects.
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