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Knighthead Funding Arranges $11 Million Refinance Loan For Multifamily Property In Tempe Arizona
FINANCED
$11,000,000
Arizona
See Similar DealsMultiFamily
Financed 02/05/2026
FINANCED
Knighthead Funding Arranges $11 Million Refinance Loan For Multifamily Property In Tempe Arizona
1224 East Lemon Street
See Similar DealsMultiFamily
Financed 02/05/2026
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
The Heights on Lemon is a multifamily property located at 1224 East Lemon Street in Tempe, AZ, with a total of 65 apartment units. The asset was involved in a refinancing arrangement amounting to $11 million, reflecting its financial position following its previous acquisition in 2021.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $11,000,000
- Loan Type: Refinance
- Loan Date: 02/05/2026
- Lender: Knighthead Funding
- Market: Tempe, AZ
- Brokers: Noah Schulman & Reuben Hedaya - Pivot Real Estate Advisors
Knighthead Funding has facilitated the refinancing loan, providing financial flexibility for the property owner. The transaction was brokered by Noah Schulman and Reuben Hedaya, representing Pivot Real Estate Advisors, who played a key role in this financial arrangement.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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