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Empire Group Of Companies Secures $70.25M Loan For Village At Borgata Multifamily Development

Property Image
FINANCED
$70,250,000
Kyle McDonough
George Maravilla
David Stull
+ 1

Arizona

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MultiFamily
Financed 01/22/2025
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Property Image
FINANCED

Empire Group Of Companies Secures $70.25M Loan For Village At Borgata Multifamily Development

3959 West Hunt Highway

See Similar Deals
MultiFamily
Financed 01/22/2025
Kyle McDonough
George Maravilla
David Stull
+ 1
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved is a multifamily development known as the Village at Borgata, located at 3959 West Hunt Highway, Queen Creek, AZ. The asset comprises 287 units and received a construction loan amounting to $70,250,000. The loan type is specifically for construction financing.

Summary of transaction details:

The deal involved Tower Capital securing financing for the Empire Group of Companies in connection with the development of the Village at Borgata. The brokers representing this transaction include David Stull, George Maravilla, Kyle McDonough, and Noah Schott.

Players

Kyle McDonough
Tower Capital
Kyle McDonough
11 deals$471M volume
BROKER
George Maravilla
Tower Capital
George Maravilla
6 deals$398.7M volume
BROKER
David Stull
Tower Capital
David Stull
3 deals$179.3M volume(480) 426-0560
BROKER
Noah Schott
Tower Capital
Noah Schott
3 deals$179.3M volume(203) 273-5640
BROKER

Details

FINANCED
IMAGE: 01/22/2025 ADDRESS: 3959 West Hunt Highway MARKET: Queen Creek, AZ ASSET TYPE: Multifamily ~ UNITS: 287 LANDLORD: Empire Group of Companies BROKERS: David Stull, George Maravilla, Kyle McDonough & Noah Schott - Tower Capital LOAN AMOUNT: $70,250,000 LOAN TYPE: Construction NOTE: Tower Capital secured $70.25 million in non-recourse construction financing for the Village at Borgata, a 287-unit BTR community in Phoenix, developed by the Empire Group.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,250,000.00

Monthly NOI$468,333.33
Monthly Debt Service$444,027.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00