Arixa Capital announced that it has closed a $74.8 million construction loan to finance the development of Pine Haven, an 83-unit townhome community in Flagstaff. The project is sponsored by Red Oak Development Group.
Pine Haven is positioned to meet continued demand for high-quality housing in one of Arizona’s most desirable residential markets. Set amongst Flagstaff’s ponderosa pine forests, the community combines a natural setting with proximity to outdoor recreation, shopping, dining, and major employment centers.
“Pine Haven is a thoughtfully designed community that will bring much-needed for-sale housing to the Flagstaff market,” said Carlie Yapp, SVP of Strategic Accounts at Arixa Capital. “We are pleased to partner with Red Oak Development Group and to provide a financing solution through our Pro Builder financing program.”
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The project is led by Tom Staub and Luke Caraway of Red Oak Development Group along with David Teo, and together the sponsors bring extensive experience across real estate development, investment management, community planning, and capital markets.
“Our goal was to create a community that reflects the natural beauty and character of the area while delivering much-needed housing,” said Tom Staub, CEO of Red Oak Development Group. “Arixa understood both the vision and the complexity of the project, structuring a financing solution that supports a phased execution. We’re excited to partner together and bring this community to life.”
Located at 2951 South Masonic Lane, Pine Haven is a fully entitled residential development planned across 12 residential buildings and amenity structures, including a clubhouse and observation tower, totaling approximately 185,940 square feet. Upon completion, the project is anticipated to deliver townhomes with three distinct floor plan options. Each home will feature three bedrooms, 2.5 bathrooms, a two-car garage, and private indoor-outdoor living spaces designed to complement the area’s setting.
“Flagstaff continues to stand out as a market with strong fundamentals, limited housing supply, and lasting appeal for homebuyers,” said David Teo. “We’re proud to partner with Arixa on a project that helps meet that demand while creating long-term value for the community and our investment partners.”
This financing was provided through Arixa’s Pro Builder program, which finances residential and mixed use developments of 20+ units that require sophisticated capital structures. The program supports phased projects through a single approval process, from acquisition and construction through final sale or refinance. To date, Arixa has financed more than $2 billion in large-scale residential and mixed use projects.
