PHOENIX-CBRE has completed arrangement of $15 million in refinancing for Hayden Peak Crossing, a grocery-anchored shopping center located at the southeast corner of Hayden Road and Thompson Peak Parkway in Scottsdale.

Working on behalf of a single purpose entity controlled by Pederson Group, Inc., CBRE placed a permanent loan with Nationwide Life Insurance Company, a CBRE correspondent lender. The CBRE team representing the borrower included Rocco Mandala, Brad Miner and Brett Behnke.

“We are pleased to have secured market leading financing for this asset in terms of loan-to-value, interest rate, and interest-only payments,” says Mandala. “Pederson's wide array of shopping centers feature upscale and enjoyable environments for shoppers as well as high-profit opportunities for its growing assortment of retail tenants.”

“Hayden Peak is an asset that we intend to hold for a long period of time,” said Jeff Manelis, President of Pederson Group. “We were looking for a flexible financing vehicle to take advantage of the historically low interest rate environment. CBRE listened to our objectives and provided us with a great product from Nationwide.”

The five-year-old.144,868-square-foot Hayden Peak Crossing offers a variety of retail tenants, including Heidi's Boutique, Classy Jazzy, Body Lab, The Pilates Society, Sumit's Yoga and a wide assortment of sit-down and fast-casual restaurants, including Local Bistro, Pure Sushi, Tavern Americana, The Good Egg, Juan Jaime's Tacos and Tequila and Starbuck's,

Established in 1983, Pederson Group Inc. specializes in the development of class A retail shopping centers in Phoenix and throughout Arizona. With 27 retail properties totaling more than 5 million square feet, Pederson provides multiple leasing opportunities for national, regional and local retailers, offering an assortment of shops, pads and restaurant suites available for lease.