Benefit Street Partners Realty Trust Provides $31.5M Construction Loan For Goodyear Development Site

A construction loan in the amount of $31,476,000 has been secured for the development site located at 2571 South Estrella Parkway in Goodyear, AZ. The loan, provided by Benefit Street Partners Realty Trust, has a term of 3 years and is non-recourse. The development site spans across 214,205 square feet and is designated for the construction of Solace at Ballpark Village, a 211-unit multi-family development within a qualified opportunity zone.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $31,476,000
• Location: 2571 South Estrella Parkway, Goodyear, AZ
• Market: Goodyear, AZ
• Lender: Benefit Street Partners Realty Trust
• Borrower's Representatives: Matt Stearns & Raymond Zanca, BlackBearCapitalPartners
• Loan Terms: 3-year term, non-recourse construction loan
• Square Footage: 214,205

BlackBearCapitalPartners, represented by Matt Stearns and Raymond Zanca, facilitated the loan transaction. The loan will replace the existing land loan and provide funding for the construction costs of Solace at Ballpark Village. The multi-family development will offer an extensive amenity package, including a clubhouse, swimming pool, spa area, fitness center, dog run, and over 400 parking spaces.