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JLL Capital Markets Facilitates $52M Construction Financing For Dobson Station Development, Mesa
FINANCED
$52,000,000
Arizona
See Similar DealsDevelopment Site
Financed 07/18/2023
FINANCED
JLL Capital Markets Facilitates $52M Construction Financing For Dobson Station Development, Mesa
139 North Dobson Road Mesa, Arizona 85201, USA
See Similar DealsDevelopment Site
Financed 07/18/2023
Summary
ARIZONA
Asset Type:Development Site
Transaction Type:Loan
JLL Capital Markets has facilitated $52 million in construction financing for Dobson Station, a 245-unit multihousing development in Mesa, Arizona. The development is located at 139 North Dobson Road in Mesa and is expected to be completed in 2024.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $52,000,000
- Address: 139 North Dobson Road, Mesa, AZ
- Market: Mesa, AZ
- Landlord: StarPoint Properties - Sandy Schmid
- Brokers: Jeff Sause, Wyatt Strahan & Elle Miraglia - JLL
The financing for Dobson Station was arranged by JLL Capital Markets. Jeff Sause, Wyatt Strahan, and Elle Miraglia from JLL served as brokers in the deal. The development is expected to bring much-needed housing options to the Mesa, Arizona market, with 245 units planned for the site.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$52,000,000.00
Monthly NOI$346,666.67
Monthly Debt Service$328,675.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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