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3959 West Hunt Highway

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

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

3959 West Hunt Highway

$70,250,000

Units

287

Asset Type

MultiFamily

Closing

Jan 22, 2025

AI

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

Broker

$471M

vol

11 deals

Broker

San Tan Valley MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93