PHOENIX, AZ – Partners, Medistar Corp., GMH Communities and a fund sponsored by CBRE Investment Management have obtained a $204 million construction loan, closed by a CIM Group-managed fund, for the development of a one-million-square-foot, mixed-use project in downtown Phoenix, AZ.
The two-tower development, titled Central Station, will feature 362 apartments, 435 student housing units with 655 beds, more than 100,000 square feet of office and retail space, and 427 subterranean parking spaces. The project broke ground in April 2022.
As a public-private partnership with the City of Phoenix and the Federal Transit Authority, Central Station will offer nearby access to an existing bus and light-rail transit center.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
