Newmark Provides $18.MM for Ground Floor Retail in Mammoth Lakes, CA

Newmark, The Village at Mammoth, Mammoth Lakes, Phoenix, CMBS, San Francisco, Mammoth Mountain Ski Area, Standard & Poor,

PHOENIX, AZ (August 30, 2018) – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $18,700,000 in long-term, non-recourse financing for ground floor retail at The Village at Mammoth, located in Mammoth Lakes, CA. Patrick Barkley, Principal, and Chad Metzger, Associate Vice President, of Newmark’s Phoenix office, arranged the 10-year, interest-only acquisition financing with one of Newmark’s correspondent CMBS lenders.

Built in 1999, the subject property contains approximately 57,925 square feet of ground floor retail with an excellent mix of shops and restaurants, all catering to the needs of an elite ski resort. The property is currently 92% leased with a complimentary mix of tenants. Situated at the base of the gondola of the world-renowned Mammoth Mountain Ski Area, the property is a popular gathering place in the town of Mammoth Lakes. With a vibrant mix of unique shops, galleries, restaurants, cafe’s, bars, nightlife and world class accommodations, The Village has become the new heart and soul of this already highly successful year round destination resort.

Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 42 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.

West Coast Commercial Real Estate News