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GDL Asset Management Secures $22.6 Million Refinance From Santander Bank For Villas De La Montaña

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FINANCED
$22,600,000
Brad Miner
Drew Lydon

Arizona

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MultiFamily
Financed 07/31/2025
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Property Image
FINANCED

GDL Asset Management Secures $22.6 Million Refinance From Santander Bank For Villas De La Montaña

4880 East 29th Street

See Similar Deals
MultiFamily
Financed 07/31/2025
Brad Miner
Drew Lydon
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a MultiFamily property named Villas de la Montaña, located at 4880 East 29th Street in Tucson, AZ, featuring a total of 332 units. The refinance loan amounted to $22,600,000, which was secured on July 31, 2025, through Santander Bank.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $22,600,000
  • Address: 4880 East 29th Street
  • Market: Tucson, AZ
  • Units: 332
  • Lender: Santander Bank
  • Landlord: GDL Asset Management
  • Brokers: Brad Miner & Drew Lydon - JLL
  • Loan Type: Refinance

GDL Asset Management has owned Villas de la Montaña since 2021 and has undertaken extensive upgrades to both the units and common areas of the property. The refinancing arrangement was facilitated by the brokerage firm JLL, represented by brokers Brad Miner and Drew Lydon.

Players

Brad Miner
JLL
Brad Miner
9 deals$413.4M volume
BROKER
Drew Lydon
JLL
Drew Lydon
4 deals$140.6M volume
BROKER
JLL
JLL
BROKERAGE
Santander Bank
Santander Bank
LENDER

Details

FINANCED
IMAGE: 07/31/2025 ADDRESS: 4880 East 29th Street MARKET: Tucson, AZ ASSET TYPE: MultiFamily ~ UNITS: 332 LENDER: Santander Bank LANDLORD: GDL Asset Management BROKERS: Brad Miner & Drew Lydon - JLL LOAN AMOUNT: $22,600,000 LOAN TYPE: Refinance NOTE: GDL Asset Management secured $22.6 million in refinancing for Villas de la Montaña in Tucson, with JLL arranging the deal through Santander Bank. Since acquiring the property in 2021, GDL has completed extensive upgrades to units and common areas.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,600,000.00

Monthly NOI$150,666.67
Monthly Debt Service$142,847.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00