Retail X Missouri

NorthMarq arranges $8.5-million loan for shopping center near St. Louis

Jeff Chaney, senior vice president and managing director of NorthMarq Capital's St. Louis regional office, recently arranged an $8.5-million mortgage for Mackenzie Pointe Shopping Center in Shrewsbury, Mo.

Jeff Chaney, senior vice president and managing director of NorthMarq Capital's St. Louis regional office, recently arranged an $8.5-million mortgage for Mackenzie Pointe Shopping Center in Shrewsbury, Mo.

The grocery-anchored retail center sits on 23.23 acres and containes 167,916 square feet of rentable retail space.

The major tenant in the center is Dierbergs.

Financing was based on a 10-year term and a 25-year amortization schedule. It was arranged for the borrower by NorthMarq through its relationship with a correspondent life insurance company.