Fields Holdings Secures $81.2M Construction Loan From Affinius Capital For Development Site In Tempe

The property asset involved in this transaction is a development site located at 706 South College Avenue in Tempe, AZ. The site is associated with a construction loan amounting to $81,200,000. This development will consist of a 14-story, 224-unit student housing project near Arizona State University’s campus, featuring 408 beds and 8,500 square feet of ground-floor retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $81,200,000
• Lender: Tyler Figley - Affinius Capital
• Landlord: Fields Holdings
• Broker: Scott Williams - CBRE
• Loan Type: Construction

Scott Williams from CBRE facilitated the deal for the construction financing, arranged for Fields Holdings, the landlord associated with the project. This financing support will enable the development of a substantial student housing project catering to the needs of Arizona State University students.