Scottsdale market context
- Airpark and the airport
- Scottsdale Airport anchors the Airpark employment district. Flex and industrial around that airport are a different file from Old Town retail or a north Scottsdale apartment. The published Airpark flex loan stays a Scottsdale industrial fact, not a template for every north Scottsdale asset. City of Scottsdale Airport
Sponsors ask for Scottsdale cash-out when they want proceeds above the payoff on a building they already own. Life company, bank, CMBS, or agency — if the asset is multifamily that fits — will each have a proceed limit. We do not print that limit as a Scottsdale rule of thumb.
The two Scottsdale tombstones cannot be drafted into this page. Airpark flex, $6,850,000, life company, 2019, says permanent refinance. The Block at Pima Center, $14,500,000, 2022, says acquisition on a ground lease. Phoenix cash-outs and the Tempe dental cash-out are other cities. The Arizona cash-out page is where those three cash-out cards are discussed together.
Why the Airpark refinance is not relabeled
A permanent refinance can pay off a loan without distributing extra cash. The card does not say cash-out, so we do not guess that it did. If your Scottsdale file is a rate-and-term or a maturity refinance, use Scottsdale refinance. If you need proceeds above payoff, you are on the right page, and you are a new file.
Ground-lease collateral makes cash-out harder, not easier. Pima Center is a leasehold acquisition, not a cash-out of fee-owned land. A later refinance of a Scottsdale ground lease has to be underwritten as a leasehold.
What to include with the request
Payoff, prepay, a rent roll, and the use of proceeds. Cash out for a new acquisition is a different loan from cash out that stays in the sponsor's account. Say which one it is.
The office is at 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258. Call (480) 495-8072. The form is not an application.
Sources for a Scottsdale cash-out
| Source | When it fits |
|---|---|
| Life company | Possible for a stabilized Scottsdale cash-out. The Airpark card is not labeled cash-out. |
| Bank and credit union | A smaller Scottsdale cash-out a portfolio lender will hold. |
| CMBS | When life company or bank proceeds will not reach the request. |
| Scottsdale refinance | The Airpark permanent refinance, which is not a cash-out. |