Mike Sunnucks | Phoenix Business Journal
A commercial mortgage bank Newmark has secured $151 million in financing for a 4 million-square-foot industrial portfolio in Phoenix.
Newmark is based in San Francisco but has a Phoenix office.
Principal Tim Storey and Associates Vice President Chad Metzger secured the 15-year financing for Presson Cos. through VOYA.
“Given the high quality of the sponsorship and the underlying real estate, there was significant interest from the institutional lending community in this opportunity,” said Newmark’s Storey. “After a thorough vetting of the market, VOYA ended up offering the best overall solution for the borrower’s portfolio and future plans. The team at VOYA not only delivered superior terms, but executed quickly and decisively on a challenging deal with many moving parts.”
