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Empire Group Secures $55M Construction Loan From North River Partners And Amzak Capital Management
FINANCED
$55,000,000
Arizona
See Similar DealsDevelopment Site
Financed 01/08/2025
FINANCED
Empire Group Secures $55M Construction Loan From North River Partners And Amzak Capital Management
Phoenix
See Similar DealsDevelopment Site
Financed 01/08/2025
Summary
ARIZONA
Asset Type:Development Site
Transaction Type:Loan
The asset involved in the transaction is a development site covering 27 acres in Queen Creek, AZ. This site is intended for a build-to-rent community known as Village at San Tan, which is projected to be completed in summer 2026.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,000,000
- Lender: Sean Robertson - North River Partners & Amzak Capital Management
- Landlord: Empire Group
- Loan Type: Construction
The deal involves key players including Empire Group, which secured the construction financing for the project, indicating the involvement of both North River Partners and Amzak Capital Management in facilitating the loan agreement for the development.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,000,000.00
Monthly NOI$366,666.67
Monthly Debt Service$347,637.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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