X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUCSON- The Canadian owner of the 117,300-sf Manzanita Plaza has refinanced the property with a $6-million loan.

Graystone Group Ltd., a Toronto-based real estate investment group, is the borrower. The fully leased Manzanita Plaza is located at 3020 W. Valencia Rd. in Tucson. The property includes tenants such as Safeway, Osco Drugs and the Arizona Department of Economic Security. Manzanita Plaza was built in 1982 and provides an ongoing repair and maintenance program.

The Bethesda, MD office of AMI Capital Inc., with investment director Mary Dee Clancy, closed the $6-million loan. The commercial loan carries a 7.46% interest rate for a 10-year term. The loan-to-value was 73% and debt service coverage, 1.28%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.