Artom Holdings LLC Secures $58 Million Construction Loan From Pacific Coast Capital Partners In Gilbert AZ
$58,000,000
Building Size
—
Asset Type
Development Site
Closing
May 13, 2025
AI
The transaction involved a development site for a 261-unit Class A multifamily development known as The Parker on Higley, located in Gilbert, AZ. The site is set for construction financing with a loan amount of $58,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $58,000,000
- Lender: Pacific Coast Capital Partners (PCCP)
- Landlord: Artom Holdings LLC
- Brokers: Brad Miner & Drew Lydon - JLL
- Loan Type: Construction
JLL Capital Markets facilitated the arrangement of the construction financing on behalf of Artom Holdings LLC, representing the landlord in the deal. This collaboration is part of the ongoing growth within the multifamily market in the Gilbert area.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93