GDL Asset Management & GDL Property Management Secures $19.5 Million Refinance From Santander Bank In Tucson

The asset involved in this transaction is a 322-unit multifamily property known as Villas Las Mandarinas, located at 4250 East 29th Street in Tucson, AZ. The property was originally built in 1977 and underwent renovations in 2023. A refinance loan of $19,500,000 was arranged for this property, utilizing a fixed-rate structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,500,000
• Lender: Santander Bank
• Landlord: GDL Asset Management & GDL Property Management
• Brokers: Brad Miner & Drew Lydon - JLL
• Loan Type: Refinance

The transaction was facilitated by JLL Capital Markets, who were responsible for arranging the refinance loan from Santander Bank for GDL Asset Management and GDL Property Management, the borrowers of the loan. The refinancing process was part of the overall strategy for revitalizing the property following its recent renovations.