IDM Cooley Station IDM Cooley Station

IDM Cos. has secured $54 million through PCCP to build two ground-up apartment projects in Phoenix totaling 534 units. The projects include IDM Estrella Parkway, a 352-unit project in Goodyear, and IDM Cooley Station, a 182-unit project in Gilbert. Both properties are class-A garden-style designs and will feature pools, fitness centers and community areas for residents.

PCCP provided a $34.1 million senior loan for IDM Estrella Parkway and a $20.1 million senior loan for IDM Cooley Station. The terms of the financing deal was not disclosed; however, the firm was attracted to the strong location, growth of the local Phoenix economy, quality construction and sponsorship and proximity to job centers.

Dave Kidder, Adam Deermount, Steve Sims and John Meek of Landmark Capital Advisors secured the funding on behalf of IDM Cos.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
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West