Updated Aug 25, 2026
Principal Life Insurance Provides $57.9M Construction Loan For Tempe Multifamily Development
2000 East Apache Boulevard, Tempe, Arizona 85281, United States
$57,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 22, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 2000 East Apache Boulevard in Tempe, AZ. The loan for the property was provided by Principal Life Insurance. The landlord of the property is Silver Creek Development, represented by Jim Cooper. The brokers involved in the deal are Antonio Hachem from George Smith Partners.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $57,900,000
- Loan Type: Construction Loan
The loan amount for this transaction is $57,900,000, and it is a construction loan. Antonio Hachem from George Smith Partners represented the landlord, Silver Creek Development, in this deal.
On the Map
$57,900,000
MultiFamily
View full map
Players
Tempe MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Arizona multifamily loans on Traded.
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