Rockworth Cos. has secured permanent financing for the Holladay Marketplace, a newly constructed mixed-use complex with retail and office space. The 15-year, sub-4.5%, non-recourse, fixed-rate loan was secured through a national private debt fund.
The 22,151-square-foot property is 10 miles south of downtown Salt Lake City. It is newly built but is already 100% leased. It was developed by the borrower in 2014 and won a 2018 Urban Design Utah Legacy Award.
The JLL Capital Markets team representing the borrower was led by managing director Mike White.
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