$73.25M refinancing closed for Chandler Gateway and Chandler Festival in Arizona

PHOENIX, Oct. 20, 2025 – JLL Capital Markets announced today that it has arranged $73.25 million in permanent financing for the Chandler Shopping Center Portfolio, consisting of two shopping centers in the Phoenix Suburb of Chandler, Arizona.

JLL represented the borrower, a joint venture managed by a real estate investment trust, in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.25 million for Chandler Gateway.

The Chandler Shopping Center Portfolio encompasses 616,639 square feet of retail along Chandler Blvd. Chandler Festival spans 354,548 square feet and features major tenants including TJ Maxx, Ross Dress For Less, Nordstrom Rack and PetSmart. Chandler Gateway spans 262,091 square feet and is anchored by Walmart and Hobby Lobby. The properties are situated adjacent to SR-101 and Price Rd, providing strong connectivity to the greater Phoenix metro area with high-volume traffic counts of 177,271 vehicles per day.

Chandler continues to be a highly sought-after retail submarket with only a 4.7% vacancy rate and limited new development. The assets rank in the top 10% of shopping centers nationally for foot traffic, drawing 9.9 million annual visitors combined.

JLL Capital Market’s Debt Advisory team representing the borrower was led by President Kevin MacKenzie, Senior Managing Director Jon Mikula, Senior Director Jason Carlos and Analysts Quin Madden and Tyler Naughten.

"The successful refinancing of the Chandler Shopping Center Portfolio demonstrates the continued strength of well-positioned retail assets in high-barrier-to-entry markets," said MacKenzie. "These properties' exceptional occupancy rates, diverse tenant mix and strategic location make them standout performers in today's retail landscape."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.