HFF announced the $26.29 million financing for Greentree Place, a 256-unit, apartment property in the Phoenix suburb of Chandler, Arizona.
The HFF team worked on behalf of Western Wealth Capital, which acquired the property on behalf of the borrower, an MDC Realty Advisors USA, Inc.-managed fund, to secure the five-year, floating-rate loan through an international bank. The loan was used to acquire the property and includes a future-funding component to assist the borrower with their capital expenditure program.
Greentree Place offers spacious one- and two-bedroom apartment homes featuring fully-equipped kitchens with breakfast bars; a mix of carpet, tile and hardwood flooring; walk-in closets; private balconies and patios; and in-unit washers and dryers. Community amenities include a resort-style swimming pool, spa, tennis court, volleyball court, state-of-the-art fitness center, business center and manicured courtyards with a community playground. The property is located at 250 S. Elizabeth Circle less than two miles north of the Santan Freeway (Arizona 202 Loop) and approximately 28 miles southeast of downtown Phoenix.
The HFF team representing the borrower included managing director Josh Simon and senior director Brad Miner.
Holliday GP Corp. (“HFF”) is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0935500 and NMLS Number 1524298.