Churchill Commercial Capital Arranges $7,859,000 Acquisition Loan

Press Release
For Immediate Release

Contact: Cindy Hammond, President
Churchill Commercial Capital Inc.
11811 N. Tatum Blvd., Suite 3083
Phoenix, AZ 85028
Phone: 602-748-1501
Fax: 602-748-1515
Email: chammond@churchillcc.com

Phoenix, Arizona — Churchill Commercial Capital, Inc. arranged acquisition financing totaling $7.859 million secured by The Alaska Airlines Building, a 70,4340 square foot single-story back office building located at 734 West Alameda, Tempe, AZ. Cindy Hammond, president and George O’ Connell, senior vice president of Churchill Commercial Capital, arranged the loan, which was provided by NewStar Financial, a Boston-based specialty finance company. The borrower, Biltmore Holdings, purchased this soon to be vacant building with the intent to further improve and lease or sell the asset. NewStar made a non-recourse, floating rate loan structured with future fundings for tenant improvements, leasing commissions, capital repairs and interest and operating expense carry. The loan closed concurrent with the sale. Churchill serves as NewStar Financial’s loan correspondent, and will service the loan. Churchill Commercial Capital is a 13 year old mortgage company who represents nineteen correspondent lenders comprised of life companies, banks and pension funds.