Updated Feb 16, 2024
PCCP Grants $53M Refinance Loan To P.B. Bell For Glendale Multifamily
15301 North 37th Avenue Glendale, Arizona 85308, USA
$53,000,000
Units
266
Asset Type
MultiFamily
Closing
Jul 25, 2023
About this deal
AI
PCCP, LLC has granted a $53 million bridge loan to P.B. Bell for the refinance of Hangar at Thunderbird, a newly constructed 266-unit apartment community located at 15301 N 37th Avenue in Glendale, Arizona. The property is a multifamily asset in the suburb of Phoenix, Arizona.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Units: 266
- Address: 15301 N 37th Avenue, Glendale, AZ
- Market: Glendale, AZ
- Lender: PCCP
- Landlord: P.B. Bell
- Loan Type: Refinance
PCCP, LLC acted as the lender in this transaction, providing the bridge loan to P.B. Bell for the refinance of the Hangar at Thunderbird. This loan allows for the continued operation and development of the newly constructed 266-unit apartment community in Glendale, Arizona.
Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Phoenix multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93