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Artom Holdings LLC Secures $58 Million Construction Loan From Pacific Coast Capital Partners In Gilbert AZ
FINANCED
$58,000,000
Arizona
See Similar DealsDevelopment Site
Financed 05/13/2025
FINANCED
Artom Holdings LLC Secures $58 Million Construction Loan From Pacific Coast Capital Partners In Gilbert AZ
Development Site
Financed 05/13/2025
Summary
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,000,000.00
Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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