Search
 

$22M Loan for Two Multifamily Properties

PHOENIX—Neal Churney, senior vice president, and Adam Finkel, vice president, of Johnson Capital's Phoenix office, have arranged $21.7 million in refinance loans for the owner of two multifamily properties located in Phoenix.

By Kristian Seemeyer | Updated on July 23, 2014

PHOENIX—Neal Churney, senior vice president, and Adam Finkel, vice president, of Johnson Capital‘s Phoenix office, have arranged $21.7 million in refinance loans for the owner of two multifamily properties located in Phoenix.

The two complexes contain a total of 440 units. The larger property, The Ridge at Sun Valley, contains 264 units and was completed in 2004 on 15.03 acres located at 801 N. 59th Avenue. The project consists of twenty-two two-story buildings and a one-story clubhouse with units comprised of 176 two-bedroom two-baths and 88 three-bedroom two-baths. The units are individually metered for electricity and contain full-size washer/dryers, patio/balconies, and full air-conditioning. Amenities at Ridge at Sun Valley include two pools with spas, an onsite clubhouse containing a leasing/management office, business center, theater room, and fitness center. The loan amount for this property was $12,375,000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.