Trident Capital Partners has provided a new refinancing package for Scottsdale Towne Center, a retail property located along Frank Lloyd Wright. The boutique real estate bridge lender arranged a $13.25 million loan on behalf of the ownership group, replacing existing debt on the property. The center, which appears on Vestar’s website, is a long-established retail destination in the area.
The new financing is structured as a 12-month, non-recourse loan, according to Trident. Proceeds are being used to pay off the prior senior debt on the asset. The transaction centers on a 16-acre retail property totaling 168,090 square feet, with a tenant lineup that includes Mountainside Fitness, Ross Dress for Less, T.J. Maxx, multiple restaurants, and additional smaller retailers. The center is adjacent to a separately owned Target store, creating a broader retail node anchored by several national and regional brands.
The property is reported to be 99% leased, reflecting strong occupancy for the multi-tenant center. Scottsdale Towne Center consists of 30 units distributed across seven buildings, offering a mix of larger boxes and smaller shop spaces. The asset was originally developed in 1995, giving it a long operating history in the marketplace and a track record of tenant demand over several cycles.
According to information cited from the Phoenix Business Journal, Trident noted that the borrower’s prior senior loan had been cross-collateralized between Scottsdale Towne Center and another retail asset in Gilbert. The Gilbert property is currently under contract for sale, and approximately $13.25 million of the senior debt had been allocated to the Scottsdale center. The new loan effectively isolates the financing for Scottsdale Towne Center by refinancing the portion of senior debt tied to this property.
Trident Capital Partners describes itself as a boutique real estate bridge lender that focuses on tailored, senior-secured financing solutions for commercial properties across the United States. The firm’s role in this transaction underscores its emphasis on short-term, structured debt products designed to address specific capital needs for owners of income-producing real estate. In this case, the 12-month, non-recourse structure provides the borrower with time and flexibility while maintaining financing on a nearly fully leased retail center.
