Trident Capital Partners has arranged a new refinancing package for the owners of Scottsdale Towne Center, a large retail property known to feature a mix of national and local tenants. The firm secured a $13.25 million loan for the center, which is located on Frank Lloyd Wright and is listed on Vestar’s website. According to Trident, the new debt facility is structured as a 12-month, non-recourse loan.
The refinancing replaces existing debt tied to the 16-acre Scottsdale Towne Center, which totals 168,090 square feet of retail space. The property is reported to be 99% leased, reflecting a highly stabilized occupancy profile. Tenants at the center include Mountainside Fitness, Ross Dress for Less, T.J. Maxx, several restaurants and smaller retailers. The retail lineup is positioned adjacent to a separately owned Target store, which is not part of the collateral for this financing.
Scottsdale Towne Center is organized as 30 units distributed across seven buildings, offering a multi-tenant open-air configuration. The property was built in 1995, giving it a several-decade operating history in the marketplace. Its current tenancy mix spans fitness, off-price retail and restaurant uses along with additional shop space, supporting regular customer traffic and diversified rent streams for the ownership.
Details published by the Phoenix Business Journal indicate that the borrower’s prior senior loan was cross-collateralized by Scottsdale Towne Center and another retail asset located in Gilbert. That other property is under contract for sale, and the financing structure allocated approximately $13.25 million of senior debt to the Scottsdale asset. The new 12-month facility arranged by Trident Capital Partners is designed to refinance that allocated senior debt portion at Scottsdale Towne Center.
Trident Capital Partners describes itself as a boutique real estate bridge lender focused on tailored senior-secured financing solutions for commercial properties across the United States. In this transaction, the company acted as the provider of short-term, non-recourse capital to refinance a stabilized, nearly fully leased retail center while the owner addresses the broader capital structure that had tied together assets in Scottsdale and Gilbert.
