Concord Wilshire & TLG Investment Partners Secures $24.5 Million Construction Loan For Metrocenter Mall Redevelopment

The asset involved in this transaction is a development site located at 9617 North Metro Parkway East, Phoenix, AZ. The transaction features a construction loan amounting to $24,500,000, designated for the redevelopment of the Metrocenter mall into a mixed-use residential village, which will encompass over 1,218 townhomes and 112,000 square feet of retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,500,000
• Loan Type: Construction
• Market: Phoenix, AZ
• Landlord: Concord Wilshire & TLG Investment Partners
• Brokers: Ben Applebaum, Daniel Eidson & Kevin O’Grady - Concord Summit Capital

The key individuals involved in this transaction include the landlords, Concord Wilshire and TLG Investment Partners, who are overseeing the project. The financing was arranged by Concord Summit Capital, represented by brokers Ben Applebaum, Daniel Eidson, and Kevin O’Grady, who facilitated the loan for the significant redevelopment endeavor.