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Harbor Group International Provides $64 Million Loan For Greystar Development's 272-Unit Apartment In Phoenix
FINANCED
$64,000,000
Arizona
See Similar DealsMultiFamily
Financed 05/05/2025
FINANCED
Harbor Group International Provides $64 Million Loan For Greystar Development's 272-Unit Apartment In Phoenix
20600 North 55th Street
See Similar DealsMultiFamily
Financed 05/05/2025
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in this transaction is the Sunela apartment property located at 20600 North 55th Street in Phoenix, AZ. This multifamily asset features a total of 272 units and benefits from its proximity to significant amenities within the market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $64,000,000
- Lender: Richard Litton - Harbor Group International
- Landlord: Greystar Development & Crown Realty Group
The deal highlights Richard Litton's role as the lender through Harbor Group International, which provided the financing. Additionally, Greystar Development and Crown Realty Group acted as the landlords for the property, contributing to the financing of this 102nd apartment loan since the establishment of their bridge-lending program in 2020.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,000,000.00
Monthly NOI$426,666.67
Monthly Debt Service$404,523.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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