Churchill Commercial Capital Arranges $21.0 Million In Financing For Mixed Use Project

Scottsdale, Arizona — George O’Connell, CMB, Senior Vice President with Churchill Commercial Capital has arranged a loan for 94th & Shea, LLC in the amount of $21,000,000 for the construction take-out on a 74,000 s.f. mixed use facility at the SEC of 94th and Shea Boulevard, Scottsdale. The property is comprised of approximately 35,000 s.f. of office space and another 39,000 s.f. of retail / restaurant space. Churchill arranged the 6.05%, 10 year fixed rate loan with their CMBS correspondent utilizing a 30 year amortization. Churchill negotiated to have the lender fund the loan prior to completion of construction so the borrowing entity could save substantial dollars over the construction pay rate. Churchill Commercial Capital, is a Phoenix based commercial mortgage banking company that arranges commercial mortgage loans through its nineteen different correspondent lenders.