Empire Group's Richard Felker Secures $79.5M Refinance For Multifamily Project In Phoenix

The asset involved in this transaction is a multifamily property located at 32000 North 29th Avenue in Phoenix, AZ. The property is known as the Village at Bronco Trail and consists of 354 units. The loan amount secured for this asset is $79,500,000, with a focus on refinance options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $79,500,000
• Landlord: Richard Felker - Empire Group
• Broker Representatives: David Stull, George Maravilla, Kyle McDonough & Noah Schott - Tower Capital
• Loan Type: Refinance
• Market: Phoenix, AZ
• Note: Tower Capital secured $79.5M in non-recourse construction refinancing for Empire Group’s Village at Bronco Trail BTR project, with first deliveries set for Fall 2025.

This transaction involved significant contributions from Tower Capital, which facilitated the non-recourse construction refinancing for Empire Group’s multifamily project. The collaboration highlights the pivotal roles played by the listed broker representatives in securing the financing for this development initiative.