HFF arranges $14M in joint venture equity for Scottsdale condo project
HFF announced today that it has arranged $14M in joint venture equity for the development of Envy, a 90-home, mid-rise condominium project in downtown Scottsdale’s Entertainment District.
HFF worked on behalf of the borrower, Deco Communities, to secure joint venture equity from an alternative investment manager.
Envy will be situated on a one-acre site at 4422 North 75th Street near the intersection of Camelback and Scottsdale Roads. Slated for completion in the second half of 2015, the 90 for-sale residences will feature a variety of one- and two-bedroom floorplans. The eight-story property will include amenities such as a 4,500-square-foot, state-of-the-art fitness center with lounge and juice bar, mezzanine lounging area, underground parking, negative-edge rooftop pool and spa, bicycle storage, electric car charging stations and concierge service.
The HFF team was led by associate director Bryan Clark.