PHOENIX—James DuMars, senior vice president and managing director of NorthMarq Capital's Phoenix office arranged $43 million in financing for seven shopping centers. The class A assets are located in Arizona and Texas and include Fry's Marketplace, Kroger, Target and Albertsons as the shadow anchors.

NorthMarq arranged the financing through its relationship with an institutional lender, New York-based Citigroup Capital Markets. The borrower, Barclay Group, is a national development firm whose principals have developed more than 100 retail centers. Over the years DuMars has assisted Barclay with nearly $200 million in permanent financing transactions.

DuMars tells GlobeSt.com, “Part of the goal was to enlarge the footprint of where Fry's and Kroger are expanding. Barclay Group also wanted to take advantage of the historically low interest rates and lock in long term. Barclay Group is the preferred developer for Fry's, Kroger, Walgreen's and Target so we're pleased to continue this relationship. All of these centers are very nice and the grocery stores are out-performers—all of a recent vintage.”